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.
N.H. Rev. Stat. Ann. § 382-A:1-310
Subordinated Obligations
Known as the Uniform Commercial Code
The act spans §§ 382-A:1-101 to 382-A:9-809 (637 sections).
Source. 2006, 169:1, eff
Official source: New Hampshire General Court. Reproduced from public-domain New Hampshire statutes; confirm against the official source for the current text. Not legal advice.