Section 84-9-618 - Rights and duties(a)Rights 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:(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)Effect of assignment, transfer, or subrogation. An assignment, transfer, or subrogation described in subsection (a):(1) Is not a disposition of collateral under K.S.A. 2023 Supp. 84-9-610, and amendments thereto; and(2) relieves the secured party of further duties under this article. L. 2000, ch. 142, § 116; 7/1/2001.