57A-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.
Source: SL 2008, ch 259, ยง24.
Structure South Dakota Codified Laws
Title 57A - Uniform Commercial Code
Chapter 01 - General Provisions
Section 57A-1-101 - Short title.
Section 57A-1-102 - Scope of chapter.
Section 57A-1-104 - Construction against implied repeal.
Section 57A-1-105 - Severability.
Section 57A-1-106 - Use of singular and plural--Gender.
Section 57A-1-107 - Section captions.
Section 57A-1-108 - Relation to Electronic Signatures in Global and National Commerce Act.
Section 57A-1-201 - General definitions.
Section 57A-1-202 - Notice--Knowledge.
Section 57A-1-203 - Lease distinguished from security interest.
Section 57A-1-205 - Reasonable time--Seasonableness.
Section 57A-1-206 - Presumptions.
Section 57A-1-301 - Territorial applicability--Parties' power to choose applicable law.
Section 57A-1-302 - Variation by agreement.
Section 57A-1-303 - Course of performance, course of dealing, and usage of trade.
Section 57A-1-304 - Obligation of good faith.
Section 57A-1-305 - Remedies to be liberally administered.
Section 57A-1-306 - Waiver or renunciation of claim or right after breach.
Section 57A-1-307 - Prima facie evidence by third-party documents.
Section 57A-1-308 - Performance or acceptance under reservation of rights.