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Tex. Business Organizations Code § 200.203

PRIORITY OF DISTRIBUTIONS

Texas · Texas Business Organizations Code · Status: effective

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Tex. Business Organizations Code § 200.203, PRIORITY OF DISTRIBUTIONS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/584254
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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.