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2021 California Code
Commercial Code - COM
DIVISION 1 - GENERAL PROVISIONS
CHAPTER 3 - Territorial Applicability and General Rules
Section 1310.
Universal Citation:
CA Com Code § 1310 (2021)
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1310.
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.
(Added by renumbering Section 1209 by Stats. 2006, Ch. 254, Sec. 28. Effective January 1, 2007.)
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