Tex. Water Code § 11.0275
This is the official text of Tex. Water Code § 11.0275, part of Texas’s Water Code — governs water rights and water resource management.
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§ 11.0275. FAIR MARKET VALUE.
Official statutory text
Whenever the law requires the payment of fair market value for a water right, fair market value shall be determined by the amount of money that a willing buyer would pay a willing seller, neither of which is under any compulsion to buy or sell, for the water in an arms-length transaction and shall not be limited to the amount of money that the owner of the water right has paid or is paying for the water.
Status: in_force · Read it on the official government site
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