TITLE XXXIV-A
UNIFORM COMMERCIAL CODE

CHAPTER 382-A
UNIFORM COMMERCIAL CODE

ARTICLE 1
GENERAL PROVISIONS

Part 3
Territorial Applicability and General Rules

Section 382-A:1-310

    382-A:1-310 Subordinated Obligations. – 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.

Source. 2006, 169:1, eff. Jan. 1, 2007.