N.Y. U.C.C. Law § 1-310
Current through 2024 NY Law Chapter 457
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.
N.Y. U.C.C. Law § 1-310