1.310 – SUBORDINATED OBLIGATIONS. An obligation may be
Texas Business and Commerce Code § 1.310
Summary
This law allows for the issuance of subordinated obligations, where one obligation can be made subordinate to another. It affects creditors and debtors by enabling them to agree on the priority of obligations without creating a security interest.
Allows obligations to be subordinated to others by agreement.
Does not create a security interest for subordinated creditors.
Applies to both debtors and creditors in contractual agreements.
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In simple terms: Learn about Texas's SUBORDINATED OBLIGATIONS. An obligation may be law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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