West Virginia § 46-9-618 Rights and duties of certain secondary obligors

West Virginia Statutes

§ 46-9-618 — Rights and duties of certain secondary obligors

West Virginia § 46-9-618

Ch. 46UNIFORM COMMERCIAL CODE

Art. 9SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER

This text of West Virginia § 46-9-618 (Rights and duties of certain secondary obligors) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 46-9-618 (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) of this section:

(1)Is not a disposition of collateral under section 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) of this section:

(1) Is not a disposition of collateral under section 9-610; and

(2) Relieves the secured party of further duties under this article.