State Codes and Statutes
Statutes > Tennessee > Title-47 > Chapter-1 > Part-3 > 47-1-31047-1-310. 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.
[Acts 2008, ch. 930, § 1.]
