Nebraska Uniform Commercial Code 2A-311

UCC 2A-311

2A-311.

Priority subject to subordination.

Nothing in this article prevents subordination by agreement by any person entitled to priority.

Source

  • Laws 1991, LB 159, § 43.

Annotations

  • COMMENT

  • Uniform Statutory Source: Section 9-339.

  • Purposes:

  • 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.

  • Cross References:

  • Sections 1-102 and 2A-304 through 2A-310.

  • Definitional Cross References:

  • "Agreement". Section 1-201(3).

  • "Person". Section 1-201(30).