§ 28:2A-311. Priority subject to subordination.

Current through October 23, 2012

Nothing in this article prevents subordination by agreement by any person entitled to priority.

                
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(July 22, 1992, D.C. Law 9-128, § 2(b), 39 DCR 3830.)

HISTORICAL AND STATUTORY NOTES

UNIFORM COMMERCIAL CODE COMMENT

Uniform Statutory Source

Section 9-316.

Purposes

The several preceding sections deal with questions of priority. This section is inserted to make it entirely clear that a person entitled to priority may effectively agree to subordinate the claim. Only the person entitled to priority may make such an agreement: the rights of such a person cannot be adversely affected by an agreement to which that person is not a party.

Cross References

Sections 1-102 and 2A-304 through 2A-310.

Definitional Cross References

"Agreement". Section 1-201(3).

"Person". Section 1-201(30).

Prior Codifications

1981 Ed., § 28:2A-311.

Legislative History of Laws

For legislative history of D.C. Law 9-128, see Historical and Statutory Notes following § 28:2A-101.