84-9-618. Rights and duties.
127 words·~1 min read·
/ks/chapter-84/84-9-618A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
84-9-618. Rights and duties.
(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 K.S.A. 2025 Supp. 84-9-610 , and amendments thereto; and
(2)relieves the secured party of further duties under this article.