There is a newer version of the Arizona Revised Statutes
2010 Arizona Revised Statutes
Title 47 - Uniform Commercial Code
47-1310 Subordinated obligation
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47-1310. Subordinated obligation 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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