Texas Business Organizations Code

§ 10.363 — POWERS AND DUTIES OF APPRAISER; APPRAISAL PROCEDURES

BO § 10.363Title 1. GENERAL PROVISIONS · Ch. 10. MERGERS, INTEREST EXCHANGES, CONVERSIONS, AND SALES OF ASSETS · Art. H. RIGHTS OF DISSENTING OWNERS

(a)An appraiser appointed under Section 10.361 has the power and authority that:

(1)is granted by the court in the order appointing the appraiser; and

(2)may be conferred by a court to a master in chancery as provided by Rule 171, Texas Rules of Civil Procedure.

(b)The appraiser shall:

(1)determine the fair value of an ownership interest of an owner adjudged by the court to be entitled to payment for the ownership interest; and

(2)file with the court a report of that determination.

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Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.