28-1-310 SUBORDINATED OBLIGATIONS. - Idaho Statutes

TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 1

UNIFORM COMMERCIAL CODE -- GENERAL PROVISIONS

PART 3.

TERRITORIAL APPLICABILITY AND GENERAL RULES

28-1-310. 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.