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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.
Cite this article: FindLaw.com - New York Consolidated Laws, Uniform Commercial Code - UCC § 1-310. Subordinated Obligations - last updated January 01, 2021 | https://codes.findlaw.com/ny/uniform-commercial-code/ucc-sect-1-310/
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