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. Such a subordination does not create a security interest as against either the common debtor or a subordinated creditor.
Section: Previous 11-1-301 11-1-302 11-1-303 11-1-304 11-1-305 11-1-306 11-1-307 11-1-308 11-1-309 11-1-310Last modified: October 14, 2016