Tex. Business Organizations Code § 200.203
This is the official text of Tex. Business Organizations Code § 200.203, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 200.203. PRIORITY OF DISTRIBUTIONS.
Official statutory text
A real estate investment trust's indebtedness that arises as a result of the declaration of a distribution and a real estate investment trust's indebtedness issued in a distribution are at parity with the real estate investment trust's indebtedness to its general, unsecured creditors, except to the extent the indebtedness is subordinated, or payment of that indebtedness is secured, by agreement.
Status: in_force · Read it on the official government site
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