Chapter 79 — Secured Transactions
ORS 79.0618 UCC 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:
Receives an assignment of a secured obligation from the secured party;
Receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or
Is subrogated to the rights of a secured party with respect to collateral.
An assignment, transfer or subrogation described in subsection (1) of this section:
Is not a disposition of collateral under ORS 79.0610; and
Relieves the secured party of further duties under this chapter.
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Provenance
2023 Oregon Revised Statutes
Official online edition
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- oregonlegislature.gov
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Version history
Prior statutory text is not available in the ingested published editions. Consult an earlier official ORS edition or the cited Oregon Laws chapter.
2025 Oregon Revised Statutes — official online source · renumbered · designation only
Official source2023 Oregon Revised Statutes · active · operative text
Official source