(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 (a) of this section


(1) is not a disposition of collateral under AS 45.29.610
; and


(2) relieves the secured party of further duties under this chapter.