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Texas Business Organizations Code - Section 10.363. Powers And Duties Of Appraiser; Appraisal Procedures

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 10.363. Powers And Duties Of Appraiser; Appraisal Procedures

§ 10.363. POWERS AND DUTIES OF APPRAISER;  APPRAISAL 
PROCEDURES.  (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.                    
	(c)  The appraiser is entitled to examine the books and 
records of a responsible organization and may conduct 
investigations as the appraiser considers appropriate.  A 
dissenting owner or responsible organization may submit to an 
appraiser evidence or other information relevant to the 
determination of the fair value of the ownership interest required 
by Subsection (b)(1).
	(d)  The clerk of the court appointing the appraiser shall 
provide notice of the filing of the report under Subsection (b) to 
each dissenting owner named in the list filed under Section 10.361 
and the responsible organization.

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

Last modified: August 11, 2007