Tex. Bus. & Com. Code § 1.310 · Subchapter C. TERRITORIAL APPLICABILITY AND GENERAL RULES
SUBORDINATED OBLIGATIONS.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
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.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 542, Sec. 1, eff. Sept. 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BC/htm/BC.1.htm
- Text hash
- sha256 8f8a70044b81544dca3c9f3b4f1539eef3230bb1d59f3341630a2eb255422336
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.