Subordinated obligations.

NRS

104.1310

Subordinated obligations.

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.

(Added to NRS by 2005, 833 )

ARTICLE 2

SALES

Part 1

Short Title, General Construction and Subject Matter