South Dakota § 57A-9-618 Rights and duties of secondary obligor.

South Dakota Statutes

§ 57A-9-618 — Rights and duties of secondary obligor.

South Dakota § 57A-9-618

Title 57AUNIFORM COMMERCIAL CODE

Ch. 57A-6SECURED TRANSACTIONS

This text of South Dakota § 57A-9-618 (Rights and duties of secondary obligor.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 57A-9-618 (2026).

Text

(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):

(1)Is not a disposition of collateral under § 57A-9-610 ; and (2) Relieves the secured party of further duties under this chapter.

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(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): (1) Is not a disposition of collateral under § 57A-9-610 ; and (2) Relieves the secured party of further duties under this chapter.