Section 1301.310. Subordinated obligations - UCC 1-310

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Part 3. Territorial Applicability and General Rules
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.

Added by 129th General AssemblyFile No.9, HB 9, §1, eff. 6/29/2011.

                    
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