RCW 62A.1-310: Subordinated obligations.

RCWs > Title 62A > Chapter 62A.1 > Section 62A.1-310

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62A.1-309 << 62A.1-310 >> End of Chapter

PDFRCW 62A.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.

[ 2012 c 214 § 124.]

NOTES:

Application—Savings—2012 c 214: See notes following RCW 62A.1-101.