CODE OF VIRGINIA

SUBORDINATED OBLIGATIONS (§ 8.1a-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.

HISTORY: 2003, c. 353.