Texas § BO.10.352 - DEFINITIONS

§ BO.10.352. DEFINITIONS

DEFINITIONS. In this subchapter: (1) "Dissenting owner" means an owner of an ownership interest in a domestic entity subject to dissenters' rights who: (A) provides notice under Section 10.356 ; and (B) complies with the requirements for perfecting that owner's right to dissent under this subchapter. (2) "Responsible organization" means: (A) the organization responsible for: (i) the provision of notices under this subchapter; and (ii) the primary obligation of paying the fair value for an ownership interest held by a dissenting owner; (B) with respect to a merger or conversion: (i) for matters occurring before the merger or conversion, the organization that is merging or converting; and (ii) for matters occurring after the merger or conversion, the surviving or new organization that is primarily obligated for the payment of the fair value of the dissenting owner's ownership interest in the merger or conversion; (C) with respect to an interest exchange, the organization the ownership interests of which are being acquired in the interest exchange; (D) with respect to the sale of all or substantially all of the assets of an organization, the organization the assets of which are to be transferred by sale or in another manner; and (E) with respect to an amendment to a domestic for-profit corporation's certificate of formation described by Section 10.354 (a)(1)(G), the corporation. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2017, 85th Leg., R.S., Ch. 776 (H.B. 3488 ), Sec. 2, eff. September 1, 2017.