| Subordinated Obligations - Ucc 1-310.

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Effective: June 29, 2011

Latest Legislation: House Bill 9 - 129th General Assembly

Subordinated obligations [UCC 1-310]

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.


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