§ 25-1-310. Subordinated obligations. - North Carolina Statutes

§ 25‑1‑310. Subordinated obligations.

An obligation may be issued assubordinated to performance of another obligation of the person obligated, or acreditor may subordinate its right to performance of an obligation by agreementwith either the person obligated or another creditor of the person obligated.Subordination does not create a security interest as against either the commondebtor or a subordinated creditor. (1967, c. 562, s. 1; 2006‑112, s. 1.)