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Texas Business Organizations Code - BUS ORG § 10.363. Powers and Duties of Appraiser;  Appraisal Procedures

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 10.363. Powers and Duties of Appraiser;  Appraisal Procedures - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-10-363/

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