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May 28, 2024 Clouds | 81°F
The 193rd General Court of the Commonwealth of Massachusetts

Section 1-310: Subordinated Obligations

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.