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2016 Statute



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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. 2016 Supp. 84-9-610, and amendments thereto; and

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

History: L. 2000, ch. 142, § 116; July 1, 2001.



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2017. Powered by KLISS. Rendered: 2017-12-10T12:06:09. Head Rev No: 341157