There Is a Newer Version of the Utah Code
2012 Utah Code
Title 70A - Uniform Commercial Code
Article 1a - Uniform Commercial Code - General Provisions
Section 310 - Subordinated obligations.
UT Code § 70A-1a-310 (2012) What's This?
70A-1a-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.
Enacted by Chapter 272, 2007 General Session
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