Utah Code § 70A-1a-310

Current with legislation effective through 5/2/2024
Section 70A-1a-310 - Subordinated obligations

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.

Utah Code § 70A-1a-310

Enacted by Chapter 272, 2007 General Session .