{"data":{"id":"us-tx/tex.-business-commerce-code-9.618","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 9.618","heading":"RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS.","body":"(a) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor:\n(1) receives an assignment of a secured obligation from the secured party;\n(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\n(3) is subrogated to the rights of a secured party with respect to collateral.\n(b) An assignment, transfer, or subrogation described in Subsection (a):\n(1) is not a disposition of collateral under Section 9.610; and\n(2) relieves the secured party of further duties under this chapter.\nAdded by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.","path":["BUSINESS AND COMMERCE CODE","TITLE 1. UNIFORM COMMERCIAL CODE","CHAPTER 9. SECURED TRANSACTIONS","SUBCHAPTER F. DEFAULT"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.9.htm#9.618","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"8cd94ae0858f30bf05c781dde51b5df172cab51f05ef27c733e8d93e50a37d5c","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-9.617","next":"us-tx/tex.-business-commerce-code-9.619"},"notice":"GroundRules: Original legal text. Not legal advice."}