Oklahoma § 12A-1-9-618 Rights and duties of certain secondary obligors.

Oklahoma Statutes

§ 12A-1-9-618 — Rights and duties of certain secondary obligors.

Oklahoma § 12A-1-9-618

Title 12AUniform Commercial Code

This text of Oklahoma § 12A-1-9-618 (Rights and duties of certain secondary obligors.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 12A, § 12A-1-9-618 (2026).

Text

RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS (a) 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)An assignment, transfer, or subrogation described in subsection (a) of this section:

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

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RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS (a) 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) An assignment, transfer, or subrogation described in subsection (a) of this section: (1) is not a disposition of collateral under Section 1-9-610 of this title; and (2) relieves the secured party of further duties under this article.