Section 41-09-113 - (9-618) Rights and duties of certain secondary obligors1. A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: a. Receives an assignment of a secured obligation from the secured party;b. Receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; orc. Is subrogated to the rights of a secured party with respect to collateral.2. An assignment, transfer, or subrogation described in subsection 1:a. Is not a disposition of collateral under section 41-09-107; andb. Relieves the secured party of further duties under this chapter.