N.Y. Uniform Commercial Code Law Section 1-310
Subordinated Obligations

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.

Source: Section 1-310 — Subordinated Obligations, https://www.­nysenate.­gov/legislation/laws/UCC/1-310 (updated Dec. 26, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Dec. 26, 2014

§ 1-310’s source at nysenate​.gov

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