Tex. Bus. Org. Code § 21.162
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
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.
Tex. Bus. Org. Code § 21.162