Wisconsin Statutes (Last Updated: January 10, 2017) |
Chapter 401. Uniform Commercial Code — General Provisions |
SubChapter III. TERRITORIAL APPLICABILITY AND GENERAL RULES |
Section 401.310. Subordinated obligations.
Latest version.
- 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.