§490:1-310 - Subordinated obligations. - Hawaii Statutes

     §490:1-310  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. [L 2004, c 162, pt of §1]