Texas Business Organizations Code 10.360 – Rights of Transferee of Certain Ownership Interest
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Terms Used In Texas Business Organizations Code 10.360
- Organization: means a corporation, limited or general partnership, limited liability company, business trust, real estate investment trust, joint venture, joint stock company, cooperative, association, bank, insurance company, credit union, savings and loan association, or other organization, regardless of whether the organization is for-profit, nonprofit, domestic, or foreign. See Texas Business Organizations Code 1.002
- Ownership interest: means an owner's interest in an entity. See Texas Business Organizations Code 1.002
A transferee of an ownership interest that is the subject of a demand for payment made under § 10.356 does not acquire additional rights with respect to the responsible organization following the transfer. The transferee has only the rights the original dissenting owner had with respect to the responsible organization after making the demand.