{"data":{"id":"us-nc/n.c.-gen.-stat.-25-9-618","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-9-618","heading":"Rights and duties of certain secondary obligors.","body":"(a)\tRights and duties of secondary obligor. - A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor:\n(1)\tReceives an assignment of a secured obligation from the secured party;\n(2)\tReceives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or\n(3)\tIs subrogated to the rights of a secured party with respect to collateral.\n(b)\tEffect of assignment, transfer, or subrogation. - An assignment, transfer, or subrogation described in subsection (a) of this section:\n(1)\tIs not a disposition of collateral under G.S. 25-9-610; and\n(2)\tRelieves the secured party of further duties under this Article. (1965, c. 700, s. 1; 1975, c. 862, s. 7; 2000-169, s. 1.)","path":["Chapter 25. Uniform Commercial Code.","Article 9. Secured Transactions.","Part 6. Default."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-9-618.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"f360e7e9f27751c9682d57689d6ebb0c562a4eb2c3bfa6587704843bb455959d","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-9-617","next":"us-nc/n.c.-gen.-stat.-25-9-619"},"notice":"GroundRules: Original legal text. Not legal advice."}