New York § 1-310 Subordinated Obligations

New York Statutes

§ 1-310 — Subordinated Obligations

New York·Law UCC Uniform Commercial Code·Part 3 Territorial Applicability and General Rules·Art. 1 No title

Section 1--310. Subordinated Obligations.\n  An obligation may be issued as subordinated to performance of another\nobligation of the person obligated, or a creditor may subordinate its\nright to performance of an obligation by agreement with either the\nperson obligated or another creditor of the person obligated.\nSubordination does not create a security interest as against either the\ncommon debtor or a subordinated creditor.\n

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Section 1--310. Subordinated Obligations.\n An obligation may be issued as subordinated to performance of another\nobligation of the person obligated, or a creditor may subordinate its\nright to performance of an obligation by agreement with either the\nperson obligated or another creditor of the person obligated.\nSubordination does not create a security interest as against either the\ncommon debtor or a subordinated creditor.\n

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