810 ILCS 5/1-310
Current through Public Acts 103-1 through 103-587, 103-589, and 103-590
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.
810 ILCS 5/1-310