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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 1. · Article 1. GENERAL PROVISIONS · Part 3. TERRITORIAL APPLICABILITY AND GENERAL RULES

11-1-310. Subordinated obligations.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. 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.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

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

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, page 51; merge action: carried; file SHA-256 ad397fccbf21.