(9-618) Rights and duties of certain secondary obligors
N.D. Cent. Code § 41-09-113
in effect41-09-113. (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:
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; or
c. 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; and
b. Relieves the secured party of further duties under this chapter.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t41c09.pdf#nameddest=41-09-113Fetched: 10/16/2026