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Code · Kansas · Chapter 84 — Uniform Commercial Code

84-1-310. Subordinated obligations.

62 words·~1 min read·/ks/chapter-84/84-1-310

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84-1-310. 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.
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