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.[ 2012 c 214 s 124.]Notes:Application—Savings—2012 c 214: See notes following RCW 62A.1-101.