{"data":{"id":"us-nj/n.j.-stat.-12a-9-618","jurisdiction":"us-nj","citation":"N.J. Stat. § 12A:9-618","heading":"Rights and duties of certain secondary obligors.","body":"Rights and Duties of Certain Secondary Obligors.\n(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):\n(1)\tis not a disposition of collateral under 12A:9-610; and\n(2)\trelieves the secured party of further duties under this chapter.\nL.2001, c.117, s.1; amended 2001, c.386, s.107.","path":["TITLE 12A COMMERCIAL TRANSACTIONS"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"1654f1550dc0798a74c44792d60f37757b97d92bb084e25f9d3f1ac2c2a4e702","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-12a-9-617","next":"us-nj/n.j.-stat.-12a-9-619"},"notice":"GroundRules: Original legal text. Not legal advice."}