GroundRules
O.C.G.A. § 11-1-310: Subordinated obligations.
Where this section sits in the code
- TITLE 11 Commercial Code
- Article 1 General Provisions
- PART 3 Territorial Applicability and General Rules
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. Such a subordination does not create a security interest as against either the common debtor or a subordinated creditor.
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