Code of Virginia

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Code of Virginia
Title 8.1A. Uniform Commercial Code -- General Provisions
Part 3. Territorial Applicability and General Rules
5/24/2020

§ 8.1A-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.

2003, c. 353.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.