Georgia § 11-9-618 Rights and duties of certain secondary obligors

Georgia Statutes

§ 11-9-618 — Rights and duties of certain secondary obligors

Georgia § 11-9-618

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This text of Georgia § 11-9-618 (Rights and duties of certain secondary obligors) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 11-9-618 (2026).

Text

(a)Rights and duties of secondary obligor. A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor:

(1)Receives an assignment of a secured obligation from the secured party;

(2)Receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or (3) Is subrogated to the rights of a secured party with respect to collateral.

(b)Effect of assignment, transfer, or subrogation. An assignment, transfer, or subrogation described in subsection (a) of this Code section:

(1)Is not a disposition of collateral under Code Section 11-9-610 ; and (2) Relieves the secured party of further duties under this article.

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(a) Rights and duties of secondary obligor. A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (1) Receives an assignment of a secured obligation from the secured party; (2) Receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or (3) Is subrogated to the rights of a secured party with respect to collateral. (b) Effect of assignment, transfer, or subrogation. An assignment, transfer, or subrogation described in subsection (a) of this Code section: (1) Is not a disposition of collateral under Code Section 11-9-610 ; and (2) Relieves the secured party of further duties under this article.