Del. Code tit. 6 § 1-310

Current through 2024 Legislative Session Act Chapter 364

Section 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."

6 Del. C. § 1-310

74 Del. Laws, c. 332, § 1.;