Section 26-1-1-302 - Subordination(1) An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate the creditor's right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated.(2) Subordination does not create a security interest as against either the common debtor or a subordinated creditor.As added by P.L. 143-2007, SEC.6.