<?xml version='1.0' encoding='utf-8'?>
<section article="gcl" article_name="Commercial Law" number="9-618" title_number="9" title_name="Secured Transactions" subtitle_number="6" subtitle_name="Default">
  <level label="a">
    <text>A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor:</text>
    <level label="1">
      <text>Receives an assignment of a secured obligation from the secured party;</text>
    </level>
    <level label="2">
      <text>Receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or</text>
    </level>
    <level label="3">
      <text>Is subrogated to the rights of a secured party with respect to collateral.</text>
    </level>
  </level>
  <level label="b">
    <text>An assignment, transfer, or subrogation described in subsection (a):</text>
    <level label="1">
      <text>Is not a disposition of collateral under § 9-610; and</text>
    </level>
    <level label="2">
      <text>Relieves the secured party of further duties under this title.</text>
    </level>
  </level>
</section>
