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General Laws

[ Text of section added by 2013, 30, Sec. 2 effective July 1, 2013 applicable as provided by 2013, 30, Sec. 116.]

  Section 1-310. 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.

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