Tex. Bus. & Com. Code 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.
Added by Acts 2003, 78th Leg., ch. 542, Sec. 1, eff. Sept. 1, 2003.

Source: Section 1.310 — Subordinated Obligations, https://statutes.­capitol.­texas.­gov/Docs/BC/htm/BC.­1.­htm#1.­310 (accessed Mar. 23, 2024).

Accessed:
Mar. 23, 2024

§ 1.310’s source at texas​.gov