Me. Stat. tit. 11 § 1-1310
Current through 131st (2023-2024) Legislature Chapter 684
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. [2009, c. 325, Pt. A, §2(NEW); 2009, c. 325, Pt. A, §4(AFF).]
11 M.R.S. § 1-1310