UNIFORM COMMERCIAL CODE (EXCERPT)
Act 174 of 1962


440.1310 Subordination.

Sec. 1310.

    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.


History: Add. 2012, Act 86, Eff. July 1, 2013




Rendered 8/15/2025 2:09 PM
Michigan Compiled Laws Complete Through PA 5 of 2025
Courtesy of legislature.mi.gov