Nebraska Uniform Commercial Code 2A-311
- Uniform Commercial Code
Priority subject to subordination.
Nothing in this article prevents subordination by agreement by any person entitled to priority.
- Laws 1991, LB 159, § 43.
Uniform Statutory Source: Section 9-339.
The several preceding sections deal with questions of priority. This section is inserted to make it entirely clear that a person entitled to priority may effectively agree to subordinate the claim. Only the person entitled to priority may make such an agreement: The rights of such a person cannot be adversely affected by an agreement to which that person is not a party.
Sections 1-102 and 2A-304 through 2A-310.
Definitional Cross References:
"Agreement". Section 1-201(3).
"Person". Section 1-201(30).