New York § 9-618 Rights and Duties of Certain Secondary Obligors

New York Statutes

§ 9-618 — Rights and Duties of Certain Secondary Obligors

New York § 9-618

JurisdictionNew York

Law UCCUniform Commercial Code

Part 6Default

Subpart 1Default and Enforcement of Security Interest

Art. 9Secured Transactions

This text of New York § 9-618 (Rights and Duties of Certain Secondary Obligors) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Uniform Commercial Code § 9-618 (2026).

Text

Section 9--618. Rights and Duties of Certain Secondary Obligors.\n  (a) Rights and duties of secondary obligor. A secondary obligor\nacquires the rights and becomes obligated to perform the duties of the\nsecured party after the secondary obligor:\n       (1) receives an assignment of a secured obligation from the\n       secured party;\n       (2) receives a transfer of collateral from the secured party and\n       agrees to accept the rights and assume the duties of the secured\n       party; or\n       (3) is subrogated to the rights of a secured party with respect\n       to collateral.\n  (b) Effect of assignment, transfer, or subrogation. An assignment,\ntransfer, or subrogation described in subsection (a):\n       (1) is not a disposition of collateral under Section 9--610; and\n   

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Section 9--618. Rights and Duties of Certain Secondary Obligors.\n (a) Rights and duties of secondary obligor. A secondary obligor\nacquires the rights and becomes obligated to perform the duties of the\nsecured party after the secondary obligor:\n (1) receives an assignment of a secured obligation from the\n secured party;\n (2) receives a transfer of collateral from the secured party and\n agrees to accept the rights and assume the duties of the secured\n party; or\n (3) is subrogated to the rights of a secured party with respect\n to collateral.\n (b) Effect of assignment, transfer, or subrogation. An assignment,\ntransfer, or subrogation described in subsection (a):\n (1) is not a disposition of collateral under Section 9--610; and\n (2) relieves the secured party of further duties under this\n article.\n