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.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 1 - General Provisions
Part 3 - Territorial Applicability and General Rules
§ 4-1-301. Territorial application of the subtitle — Parties' power to choose applicable law
§ 4-1-302. Variation by agreement
§ 4-1-303. Course of performance — Course of dealing — Usage of trade
§ 4-1-304. Obligation of good faith
§ 4-1-305. Remedies to be liberally administered
§ 4-1-306. Waiver or renunciation of claim or right after breach
§ 4-1-307. Prima facie evidence by third-party documents
§ 4-1-308. Performance or acceptance under reservation of rights