§ 6A-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 of Section.P.L. 2007, ch. 19, § 4; P.L. 2007, ch. 34, § 4.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-1 - General Provisions
Part 3 - Territorial Applicability and General Rules
Section 6A-1-301. - Territorial applicability — Parties’ power to choose applicable law.
Section 6A-1-302. - Variation by agreement.
Section 6A-1-303. - Course of performance, course of dealing and usage of trade.
Section 6A-1-304. - Obligation of good faith.
Section 6A-1-305. - Remedies to be liberally administered.
Section 6A-1-306. - Waiver or renunciation of claim or right after breach.
Section 6A-1-307. - Prima facie evidence by third-party documents.
Section 6A-1-308. - Performance or acceptance under reservation of rights.