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Texas Business Organizations Code - Section 21.162. Value And Sufficiency Of Consideration

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 21.162. Value And Sufficiency Of Consideration

§ 21.162. VALUE AND SUFFICIENCY OF CONSIDERATION.  In the 
absence of fraud in the transaction, the judgment of the board of 
directors, the shareholders, or the party approving the plan of 
conversion or the plan of merger, as appropriate, is conclusive in 
determining the value and sufficiency of the consideration received 
for the shares.

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

Last modified: August 11, 2007