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Texas Business Organizations Code - BUS ORG § 200.203. Priority of Distributions

Current as of January 01, 2024 | Updated by Findlaw Staff

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.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 200.203. Priority of Distributions - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-200-203/

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