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Can you summarize NVRS 104.9618?
Uniform Commercial CodeOriginal Articles > Rights and duties of certain secondary obligors.
Short Summary
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 NRS 104.9610 ; and (b)Relieves the secured party of further duties under this article. (Added to NRS by 1999, 356)
Jurisdiction
Nevada