{"data":{"id":"us-ar/ark.-code-ann.-4-9-622","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-9-622","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 subsection (a), even if the secured party fails to comply with this chapter.","path":["Title 4 Business and Commercial Law","Subtitle 1. Uniform Commercial Code","Chapter 9 Secured Transactions","Part 6 — Default","Subpart 1 Default and Enforcement of Security Interest"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.04.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T21:07:03Z","sha256":"5370614cef8d2a3222f24fa87fc1617ed42b537e024f7be89c8194b415d05300","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-9-621","next":"us-ar/ark.-code-ann.-4-9-623"},"notice":"GroundRules: Original legal text. Not legal advice."}