Okla. Stat. tit. 12A, § 12A-1-9-618: Rights and duties of certain secondary obligors

RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS

(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) of this section:

(1) is not a disposition of collateral under Section 1-9-610 of

this title; and

(2) relieves the secured party of further duties under this

article.