The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 679
UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS

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F.S. 679.618

679.618 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

(2) An assignment, transfer, or subrogation described in subsection (1):

(a) Is not a disposition of collateral under s. 679.610; and

(b) Relieves the secured party of further duties under this chapter.

History.—s. 7, ch. 2001-198.

Cases from cite.case.law:

. . . . § 679.618. . . .

. . . . §§ 679.610, 679.611, 679.615, 679.617, 679.618, and 679.624 effective January 1, 2002. . Fla. . . .