### Question
How does SECURITIES AND TRUST INDENTURES define senior security?


### Answer
Under *15 U.S.C. § 77r*, **senior security** is defined as:

> any bond, debenture, note, or similar obligation or instrument constituting a security and evidencing indebtedness, and any stock of a class having priority over any other class as to distribution of assets or payment of dividends

#### Citation:
  - *15 U.S.C. § 77r*
  - Heading: **CHAPTER 2A-SECURITIES AND TRUST INDENTURES > SUBCHAPTER I-DOMESTIC SECURITIES**

