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  • SECTION 1-309
    Option to Accelerate at Will
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  • PART 3
    Territorial Applicability and General Rules
    • This entry was published on 2014-12-26
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    SECTION 1-310

    Subordinated Obligations

    Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 1, PART 3

    Section 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.