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California Commercial Code

§ 9618

COM § 9618 Effective Jan 1, 2000Div. 9 · Ch. 6

Statute text

View on leginfo.ca.gov
(a)A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after any of the following occurs:
(1)The secondary obligor receives an assignment of a secured obligation from the secured party.
(2)The secondary obligor receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party.
…

Legislative history

Added by Stats. 1999, Ch. 991, Sec. 35. Effective January 1, 2000. Operative July 1, 2001, by Sec. 75 of Ch. 991 and Section 9701.

Source: California Commercial Code § 9618 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.