25-1-310. 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. (1967, c. 562, s. 1; 2006-112, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 25 - Uniform Commercial Code
Article 1 - General Provisions.
§ 25-1-102 - Scope of Article.
§ 25-1-104 - Construction against implied repeal.
§ 25-1-106 - Use of singular and plural; gender.
§ 25-1-107 - Section captions.
§ 25-1-108 - Relation to Electronic Signatures in Global and National Commerce Act.
§ 25-1-201 - General definitions.
§ 25-1-202 - Notice; knowledge.
§ 25-1-203 - Lease distinguished from security interest.
§ 25-1-205 - Reasonable time; seasonableness.
§ 25-1-301 - Territorial applicability; parties' power to choose applicable law.
§ 25-1-302 - Variation by agreement.
§ 25-1-303 - Course of performance, course of dealing, and usage of trade.
§ 25-1-304 - Obligation of good faith.
§ 25-1-305 - Remedies to be liberally administered.
§ 25-1-306 - Waiver or renunciation of claim or right after breach.
§ 25-1-307 - Prima facie evidence by third-party documents.
§ 25-1-308 - Performance or acceptance under reservation of rights.