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 NRS 104.9610 ; and (b) Relieves the secured party of further duties under this article.
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