Iowa Code § 554.1310
Current through March 29, 2024
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.
Iowa Code § 554.1310
2007 Acts, ch 41, §21, 56