Minnesota § 336.9-618 336.9-618 RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS.

Minnesota Statutes

§ 336.9-618 — 336.9-618 RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS.

Minnesota § 336.9-618

PartTRADE REGULATIONS, CONSUMER PROTECTION

Ch. 336UNIFORM COMMERCIAL CODE

This text of Minnesota § 336.9-618 (336.9-618 RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS.) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 336.9-618 (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):

(1)is not a disposition of collateral under section336.9-610; 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):
(1) is not a disposition of collateral under section336.9-610; and
(2) relieves the secured party of further duties under this article.