Texas Business Organizations Code
Sec. § 10.357
Withdrawal of Demand for Fair Value of Ownership Interest


(a)

An owner may withdraw a demand for the payment of the fair value of an ownership interest made under Section 10.356 (Procedure for Dissent by Owners As to Actions; Perfection of Right of Dissent and Appraisal) before:

(1)

payment for the ownership interest has been made under Sections 10.358 (Response by Organization to Notice of Dissent and Demand for Fair Value by Dissenting Owner) and 10.361 (Proceeding to Determine Fair Value of Ownership Interest and Owners Entitled to Payment; Appointment of Appraisers); or

(2)

a petition has been filed under Section 10.361 (Proceeding to Determine Fair Value of Ownership Interest and Owners Entitled to Payment; Appointment of Appraisers).

(b)

Unless the responsible organization consents to the withdrawal of the demand, an owner may not withdraw a demand for payment under Subsection (a) after either of the events specified in Subsections (a)(1) and (2).
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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Last accessed
Jan. 22, 2020