§1-1310. 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. [2009, c. 325, Pt. A, §2 (NEW); 2009, c. 325, Pt. A, §4 (AFF).]
2009, c. 325, Pt. A, §2 (NEW).
2009, c. 325, Pt. A, §4 (AFF).