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§ 1-310. Subordinated obligations

West's Annotated Code of MarylandCommercial LawEffective: June 1, 2012

West's Annotated Code of Maryland
Commercial Law
Title 1. General Provisions (Refs & Annos)
Subtitle 3. Territorial Applicability and Applicable Law (Refs & Annos)
Effective: June 1, 2012
MD Code, Commercial Law, § 1-310
§ 1-310. Subordinated obligations
Currentness
(a) 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.
(b) Subordination does not create a security interest as against either the common debtor or a subordinated creditor.

Credits

Added by Acts 2012, c. 673, § 2, eff. June 1, 2012.
MD Code, Commercial Law, § 1-310, MD COML § 1-310
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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