Nebraska § 6-116 - Claim subordination.
Full text of Nebraska Revised Statutes of Nebraska § 6-116 — Claim subordination., with citation guidance and answers to common questions.
§ 6-116. Claim subordination.
(a) A subordination agreement is enforceable under the Uniform Assignment for Benefit of Creditors Act to the same extent the agreement is enforceable under other law.
(b) Subject to subsection (c) of this section, the following claims are subordinate to a claim or interest that is senior or equal in priority to a claim or interest represented by a security or other equity interest in the assignor or an affiliate of the assignor:
(1) a claim arising from rescission of a purchase or sale of the security or other equity interest;
(2) a claim for damages arising from the purchase or sale of the security or other equity interest; and
(3) a claim for reimbursement or contribution allowed on account of the rescission or damage claim.
(c) If the security is common stock or another common equity interest, a claim subject to subordination under subsection (b) of this section has the same priority as common stock or another common equity interest.
Frequently Asked Questions About Nebraska § 6-116
What does Revised Statutes of Nebraska § 6-116 cover?
Section 6-116 ("Claim subordination.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 6-116?
A common citation format is "Revised Statutes of Nebraska § 6-116" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 6-116 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.