Section 70A-9a-618 - Rights and duties of certain secondary obligors(1) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (a) receives an assignment of a secured obligation from the secured party;(b) receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or(c) is subrogated to the rights of a secured party with respect to collateral.(2) An assignment, transfer, or subrogation described in Subsection (1):(a) is not a disposition of collateral under Section 70A-9a-610; and(b) relieves the secured party of further duties under this chapter.Enacted by Chapter 252, 2000 General Session .