47-9618. 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 47-9610; and


2. Relieves the secured party of further duties under this chapter.