New Jersey Statutes
§ 12A:9-618 — Rights and duties of certain secondary obligors.
New Jersey § 12A:9-618
JurisdictionNew Jersey
Title 12ACOMMERCIAL TRANSACTIONS
This text of New Jersey § 12A:9-618 (Rights and duties of certain secondary obligors.) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.J. Stat. Ann. § 12A:9-618 (2026).
Text
12A:9-618. Rights and Duties of Certain Secondary Obligors.
(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 12A:9-610; and (2) relieves the secured party of further duties under this chapter. L.2001, c.117, s.1
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Nearby Sections
15
§ 12A:9-101
Short title§ 12A:9-102
Definitions and index of definitions.§ 12A:9-104
Control of deposit account.§ 12A:9-105
Control of electronic chattel paper.§ 12A:9-106
Control of investment property.§ 12A:9-107
Control of letter-of-credit right§ 12A:9-108
Sufficiency of description.§ 12A:9-109
Scope.§ 12A:9-201
General effectiveness of security agreement.§ 12A:9-202
Title to collateral immaterial§ 12A:9-204
After-acquired property, future advances.Cite This Page — Counsel Stack
Bluebook (online)
New Jersey § 12A:9-618, Counsel Stack Legal Research, https://law.counselstack.com/statute/nj/12A/12A%3A9-618.