Ohio Rev. Code § 1309.618
Rights and duties of certain secondary obligors - UCC 9-618.
Ohio · Chapter 1309 | Secured Transactions · Status: effective
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- Citation
- Ohio Rev. Code § 1309.618, Rights and duties of certain secondary obligors - UCC 9-618, Ohio, version 1 as recorded 2026-08-11, yourstate.us, https://yourstate.us/provision/1169973
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Full text
(A) 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) An assignment, transfer, or subrogation described in division (A) of this section:
(1) Is not a disposition of collateral under section 1309.610 of the Revised Code; and(2) Relieves the secured party of further duties under this chapter.