N.C. Gen. Stat. § 25-1-310

Current through Session Law 2024-3
Section 25-1-310 - 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. Subordination does not create a security interest as against either the common debtor or a subordinated creditor.

N.C. Gen. Stat. § 25-1-310

Amended by 2006 N.C. Sess. Laws 112,s. 1, eff. 10/1/2006.
1967, c. 562, s. 1.