Mo. Rev. Stat. § 400.9-618
Rights and duties of certain secondary obligors
Missouri · Revised Statutes of Missouri Chapter 400 — Uniform Commercial Code · Status: effective · Effective 2001-07-01
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- Citation
- Mo. Rev. Stat. § 400.9-618, Rights and duties of certain secondary obligors, Missouri, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1815337
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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 subsection (a):
(1) Is not a disposition of collateral under section 400.9-610; and
(2) Relieves the secured party of further duties under this article.