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An obligation may be issued as subordinated to payment of another obligation of the person obligated, or a creditor may subordinate his right to payment of an obligation by agreement with either person obligated or another creditor of the person obligated. Such subordination does not create a security interest as against either the common debtor or a subordinated creditor.Turtle Mountain Band of Chippewa Indians Tribal Code.
24.01.180 Subordinated Obligation
Original url: /us/nsn/tmchippewa/council/code/24.01.180
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