Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Transportation Code § 68.103: SHARE VALUATION.

Where this section sits in the code

TRANSPORTATION CODE
TITLE 4. NAVIGATION
SUBTITLE B. PILOTS
CHAPTER 68. BRAZORIA COUNTY PILOTS LICENSING AND REGULATORY ACT
SUBCHAPTER F. BRAZOS PILOTS ASSOCIATION

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.

Collected 2026-08-27T01:47:44Z. Source file · JSON

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