Tex. Business Organizations Code § 21.162
This is the official text of Tex. Business Organizations Code § 21.162, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 21.162. VALUE AND SUFFICIENCY OF CONSIDERATION.
Official statutory text
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.
Status: in_force · Read it on the official government site
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