Value and Sufficiency of Consideration

Sec. 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, Sec. 1, eff. Jan. 1, 2006.