Ky. Rev. Stat. § 355.1-310
Current through Acts Received April 24, 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.
KRS 355.1-310
Created 2006, Ky. Acts ch. 242, sec. 24, effective7/12/2006.