Section 10.364 - Objection to Appraisal; Hearing(a) A dissenting owner or responsible organization may object, based on the law or the facts, to all or part of an appraisal report containing the fair value of an ownership interest determined under Section 10.363(b).(b) If an objection to a report is raised under Subsection (a), the court shall hold a hearing to determine the fair value of the ownership interest that is the subject of the report. After the hearing, the court shall require the responsible organization to pay to the holders of the ownership interest the amount of the determined value with interest, accruing from the 91st day after the date the applicable action for which the owner elected to dissent was effected until the date of the judgment.(c) Interest under Subsection (b) accrues at the same rate as is provided for the accrual of prejudgment interest in civil cases.(d) The responsible organization shall pay the amount of the judgment to the holder of the ownership interest on the terms and conditions ordered by the court
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(e) On payment of the judgment, the dissenting owner does not have an interest in the: (1) ownership interest for which the payment is made; or(2) responsible organization with respect to that ownership interest.Tex. Bus. Org. Code § 10.364
Amended by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 27,Sec. 13, eff. 9/1/2023. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.