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 45.01.301 45.01.302 45.01.303 45.01.304 45.01.305 45.01.306 45.01.307 45.01.308 45.01.309 45.01.310Last modified: November 15, 2016