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Georgia State Code
Title      11
Chapter       1  
Section Navigation   101 ... 201         202 ... 209     
Section<<< 202 203 204 205 206 207 208 209  
Title 11, Chapter 1, Section 209 (11-1-209)
Subordinated obligations.

An obligation may be issued as subordinated to payment of another obligation of the person obligated, or a creditor may subordinate his right to payment 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. This Code section shall be construed as declaring the law as it existed prior to the enactment of this Code section and not as modifying it.

Saturday May 23 10:15 EDT


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