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California Commercial Code Section 1310

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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.

Section: Previous 2101 2102 2103 2104 2105 2106 2107 1308 1309 1310

Last modified: January 12, 2009