Subordination

Ind. Code § 26-1-1-302
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
Sec. 302. (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. As added by P.L.143-2007, SEC.6.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/26Fetched: 10/17/2026

Starting a business in Indiana? Indiana LLC guide: costs and requirements