28-1-310. 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.
History:
[28-1-310, added 2004, ch. 43, sec. 28, p. 152.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 1 - UNIFORM COMMERCIAL CODE — GENERAL PROVISIONS
Part 3 - TERRITORIAL APPLICABILITY AND GENERAL RULES
Section 28-1-302 - VARIATION BY AGREEMENT.
Section 28-1-303 - COURSE OF PERFORMANCE, COURSE OF DEALING, AND USAGE OF TRADE.
Section 28-1-304 - OBLIGATION OF GOOD FAITH.
Section 28-1-305 - REMEDIES TO BE LIBERALLY ADMINISTERED.
Section 28-1-306 - WAIVER OR RENUNCIATION OF CLAIM OR RIGHT AFTER BREACH.
Section 28-1-307 - PRIMA FACIE EVIDENCE BY THIRD PARTY DOCUMENTS.
Section 28-1-308 - PERFORMANCE OR ACCEPTANCE UNDER RESERVATION OF RIGHTS.