GroundRules
Tex. Business & Commerce Code § 1.310: SUBORDINATED OBLIGATIONS.
Where this section sits in the code
- BUSINESS AND COMMERCE CODE
- TITLE 1. UNIFORM COMMERCIAL CODE
- CHAPTER 1. GENERAL PROVISIONS
- SUBCHAPTER C. TERRITORIAL APPLICABILITY AND GENERAL RULES
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 Acts 2003, 78th Leg., ch. 542, Sec. 1, eff. Sept. 1, 2003.
Collected 2026-08-27T01:46:56Z. Source file · JSON