70A-1a-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.
Enacted by Chapter 272, 2007 General Session
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Last revised: Thursday, May 28, 2009