Rights and duties of certain secondary obligors.

S.C. Code Ann. § 36-9-618
in effect
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(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 36-9-610; and (2) relieves the secured party of further duties under this chapter.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t36c009.phpFetched: 10/17/2026

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