Tex. Bus. & Com. Code § 1.310
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
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.
Tex. Bus. and Comm. Code § 1.310