TITLE 6A
Uniform Commercial Code

CHAPTER 6A-1
General Provisions

PART 6A-1-301
Territorial Applicability and General Rules

SECTION 6A-1-310


§ 6A-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.

History of Section.
(P.L. 2007, ch. 19, § 4; P.L. 2007, ch. 34, § 4.)