GroundRules
Ala. Code § 7-1-310: Subordinated Obligations.
Where this section sits in the code
- Title 7 Commercial Code.
- Article 1 General Provisions.
- Part 3 Territorial Applicability; Parties’ Power to Choose Applicable Law.
An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated. Subordination does not create a security interest as against either the common debtor or a subordinated creditor.
Collected 2026-09-03T14:01:52Z. Source file · JSON