N.D. Cent. Code § 41-09-113: (9-618) Rights and duties of certain secondary obligors

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 section 41-09-107; and

b.Relieves the secured party of further duties under this chapter.