(1-310) Subordinated obligations

N.D. Cent. Code § 41-01-24
in effect
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41-01-24. (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 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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t41c01.pdf#nameddest=41-01-24Fetched: 10/16/2026

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N.D. Cent. Code § 41-01-24 — (1-310) Subordinated obligations | North Dakota Century Code (Aug. 2026 snapshot) | Corpus