☰ Revisor of Missouri

Title XXVI TRADE AND COMMERCE

Chapter 400

Effective - 01 Jul 2001, see footnote bottom

  400.9-618.  Rights and duties of certain secondary obligors. — (a)  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)  An assignment, transfer, or subrogation described in subsection (a):

  (1)  Is not a disposition of collateral under section 400.9-610; and

  (2)  Relieves the secured party of further duties under this article.

­­--------

(L. 2001 S.B. 288)

Effective 7-01-01


---- end of effective   01 Jul 2001 ----

use this link to bookmark section  400.9-618


In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions

Site changes Pictures Contact

Other Links
Oversight MOLIS Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House

@16:08:33.1 30 :)