{"data":{"id":"us-ak/as-45.29.622","jurisdiction":"us-ak","citation":"AS 45.29.622","heading":"Effect of acceptance of collateral.","body":"(a) A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures\n(1) discharges the obligation to the extent consented to by the debtor;\n(2) transfers to the secured party all of a debtor's rights in the collateral;\n(3) discharges the security interest or agricultural lien that is the subject of the debtor's consent and any subordinate security interest or other subordinate lien; and\n(4) terminates any other subordinate interest.\n(b) A subordinate interest is discharged or terminated under (a) of this section, even if the secured party fails to comply with this chapter.","path":["Title 45. Trade and Commerce.","Chapter 29. Secured Transactions.","Article 6. Default."],"source_url":"https://www.akleg.gov/basis/statutes.asp#45.29.622","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:19:44Z","sha256":"214abfe87fc63ae6cd702a59d1ba5f0cddd7a02cd2aabbff3d10eb21f0af44db","source_id":"us-ak","stale":false,"prev":"us-ak/as-45.29.621","next":"us-ak/as-45.29.623"},"notice":"GroundRules: Original legal text. Not legal advice."}