Tex. Transp. Code Section 68.103
Share Valuation

The value of all assets of the association shall be determined by an appraisal made by one or more qualified appraisers designated by the association president. The value of each share is determined by dividing the total value of all assets of the association by the number of shares outstanding. The value of each share shall be used in a transaction that involves:

(1)

the purchase of a share by a newly commissioned branch pilot;

(2)

the sale of a share on retirement by a branch pilot; or

(3)

the purchase of a share by the association from the legal heirs of a deceased branch pilot.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.

Source: Section 68.103 — Share Valuation, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­68.­htm#68.­103 (accessed May 18, 2024).

68.001
Short Title 68.002
Definitions 68.003
Applicability of Chapter 68.004
Venue 68.011
Board 68.012
Prohibited Interest 68.013
Oath 68.014
Term of Office 68.015
Jurisdiction 68.016
Administration 68.017
Duties 68.018
Pilot Review Board 68.019
Unfair Discrimination Prohibited 68.020
Open Meetings Law 68.021
Rule or Rate Change 68.022
Judicial Review 68.031
License or Certificate Required 68.032
Exemption 68.033
Qualifications for License 68.034
Qualifications for Certificate 68.035
Application for License or Certificate 68.036
Consideration of Application 68.037
Branch Pilot Appointment by Governor 68.038
Deputy Branch Pilot Appointment by Branch Pilot 68.039
Oath 68.040
Terms of Licenses and Certificates 68.041
Branch Pilot’s License Renewal 68.042
Deputy Branch Pilot 68.043
Health and Drug Certification 68.044
Suspension or Revocation of Branch Pilot’s License 68.045
Suspension or Revocation of Deputy Branch Pilot’s Certificate 68.046
Liability to Pilot 68.061
Pilotage Rate Change 68.062
Pilotage Rates 68.063
Pilotage Rate Change Application 68.064
Objection 68.065
Board Action on Application 68.066
Pilot Financial Report 68.067
Factors for Board Consideration 68.068
Board Action 68.069
Reporting and Stenographic Costs 68.070
Order Filed 68.071
Emergency Pilotage Rates 68.072
Pilot Services Required 68.073
Pilotage Rate Liability 68.074
Recovery of Compensation 68.081
Purpose 68.082
Pilot Liability 68.083
Pilot Liability Limited 68.091
Pilots Association 68.092
Association Purposes 68.093
Officers 68.094
Term of Office 68.095
Property 68.096
Independent Contractor 68.097
Fee Collection 68.098
Operating Budget 68.099
Service Fees 68.100
Fee Distribution 68.101
Association Services 68.102
Transfer of Property 68.103
Share Valuation 68.104
Transfer of Shares 68.105
Facilities Fee 68.106
Limitation on Share Ownership 68.107
Retirement Benefits
Green check means up to date. Up to date

Accessed:
May 18, 2024

§ 68.103’s source at texas​.gov