North Dakota Statutes
§ 41-01-24 — (1-310) Subordinated obligations
North Dakota § 41-01-24
This text of North Dakota § 41-01-24 ((1-310) Subordinated obligations) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.D. Cent. Code § 41-01-24 (2026).
Text
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. Subordination does not create a security interest as against either the common
debtor or a subordinated creditor.
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Nearby Sections
15
§ 41-01-01
(1-101) Short titles§ 41-01-02
(1-102) Scope of chapter§ 41-01-05
(1-105) Severability§ 41-01-07
(1-107) Section captions§ 41-01-09
(1-201) General definitions§ 41-01-10
(1-202) Notice - Knowledge§ 41-01-12
(1-204) Value§ 41-01-13
(1-205) Reasonable time - Seasonableness§ 41-01-14
(1-206) PresumptionsCite This Page — Counsel Stack
Bluebook (online)
North Dakota § 41-01-24, Counsel Stack Legal Research, https://law.counselstack.com/statute/nd/41-01-24.