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2017 Pennsylvania Consolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 13 - Territorial Applicability and General Rules
Section 1310 - Subordinated obligations
Universal Citation: 13 PA Cons Stat § 1310 (2017)
§ 1310. 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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