Statute: 671.213 : Subordinated obligations.—
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TITLE XXXIX : COMMERCIAL RELATIONS
PART II : GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION
671.213 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.
