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O.C.G.A. § 11-1-310 — Subordinated obligations | Georgia Code

O.C.G.A. § 11-1-310 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 11 COMMERCIAL CODE

Section 1. General Provisions, 11-1-101 through 11-1-209.

ARTICLE 1 GENERAL PROVISIONS

11-1-310. Subordinated obligations.

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.

(Code 1981, §11-1-310, enacted by Ga. L. 2015, p. 996, § 3A-1/SB 65.)

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This Georgia Code resource is curated by Graham W. Syfert, Esq., a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.