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 Mississippi Code
Title 75 - Regulation of Trade, Commerce and Investments
Chapter 1 - Uniform Commercial Code - Revised Article 1. General Provisions
Part 3 - . Territorial Applicability and General Rules
§ 75-1-301. Territorial application of the code; parties' power to choose applicable law
§ 75-1-302. Variation by agreement
§ 75-1-303. Course of performance, course of dealing, and usage of trade
§ 75-1-304. Obligation of good faith
§ 75-1-305. Remedies to be liberally administered
§ 75-1-306. Waiver or renunciation of claim or right after breach
§ 75-1-307. Prima facie evidence by third-party documents
§ 75-1-308. Performance or acceptance under reservation of rights