Cal. Commercial Code § 9618
Cal. Commercial Code § 9618
California · California Commercial Code · Status: effective · Effective 2000-01-01
Cite this
- Citation
- Cal. Commercial Code § 9618, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/790738
- Permanent ID
ys:prov:790738@1- SHA-256
5f46cbea755e4322c4fd4eaf22a4d5c1f57cf9f01d02275b042afbdd7e30034b
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after any of the following occurs:
(1) The secondary obligor receives an assignment of a secured obligation from the secured party.
(2) The secondary obligor receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party.
(3) The secondary obligor is subrogated to the rights of a secured party with respect to collateral.
(b) Both of the following rules apply with respect to an assignment, transfer, or subrogation described in subdivision (a):
(1) It is not a disposition of collateral under Section 9610.
(2) It relieves the secured party of further duties under this division.