SECTION 679.618. Rights and duties of certain secondary obligors.

Latest version.

1(1) 2A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor:
23(a) 24Receives an assignment of a secured obligation from the secured party;
35(b) 36Receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or
60(c) 61Is subrogated to the rights of a secured party with respect to collateral.
74(2) 75An assignment, transfer, or subrogation described in subsection (1):
84(a) 85Is not a disposition of collateral under s. 93679.610; 94and
95(b) 96Relieves the secured party of further duties under this chapter.

History.-s. 7, ch. 2001-198.

Bills Cite this Section:

None

Cited by Court Cases:

None

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        var href = decodeURIComponent(window.location.href);
                        var url = decodeURIComponent(escape(href.split("#")[0]));
                        url = decodeURIComponent(escape(url.split(",")[0]));
                        art.dialog.defaults.title = url;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');