Indiana Statutes
§ 26-1-1-302 — Subordination
(1)An obligation may be issued as
subordinated to performance of another obligation of the person
obligated, or a creditor may subordinate the creditor's right to
performance of an obligation by agreement with either the person
obligated or another creditor of the person obligated.
(2)Subordination does not create a security interest as against either
the common debtor or a subordinated creditor.
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Indiana § 26-1-1-302 (Subordination) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
As added by P.L.143-2007, SEC.6.
Nearby Sections
15
§ 26-1-1-0.3
Certain security interests considered perfected§ 26-1-1-0.5
Status of certain security interests; conditions; lapsing of perfection;
filing of financing statements§ 26-1-1-101
Short title; application§ 26-1-1-104
Construction against implicit repeal§ 26-1-1-105
Repealed§ 26-1-1-106
Remedies to be liberally administered§ 26-1-1-108
Severability