Nev. Rev. Stat. § 104.9618
Rights and duties of certain secondary obligors
Nevada · Nevada Revised Statutes Chapter 104 — Uniform Commercial Code—Original Articles · Status: effective
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- Citation
- Nev. Rev. Stat. § 104.9618, Rights and duties of certain secondary obligors, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2079707
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Full text
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.