Tex. Bus. Org. Code § 200.203
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
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.
Tex. Bus. Org. Code § 200.203