Section 1301.310 | Subordinated obligations - UCC 1-310.
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.
Available Versions of this Section
- June 29, 2011 – House Bill 9 - 129th General Assembly [ View June 29, 2011 Version ]