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Chapter 336
Section 336.1-310
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336.1-310 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.
History: 2004 c 162 art 1 s 25
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.
History: 2004 c 162 art 1 s 25
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Revisor of Statutes