2006 Ohio Revised Code - 1309.339. (UCC 9-339) Priority subject to subordination.
§ 1309.339. (UCC 9-339) Priority subject to subordination.
Nothing in this chapter precludes subordination by agreement by any person entitled to priority.
HISTORY: RC § 1309.35, 129 v S 5 (Eff 7-1-62); RC § 1309.339, 149 v S 74. Eff 7-1-2001.
The effective date is set by section 4 of SB 74.
Official Comment
1. Source. Former section 9-316.
2. Subordination by Agreement. The preceding sections deal elaborately with questions of priority. This section makes it entirely clear that a person entitled to priority may effectively agree to subordinate its claim. Only the person entitled to priority may make such an agreement: A person's rights cannot be adversely affected by an agreement to which the person is not a party.
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