{"data":{"id":"us-id/idaho-code-28-9-620","jurisdiction":"us-id","citation":"Idaho Code § 28-9-620","heading":"Acceptance of collateral in full or partial satisfaction of obligation — Compulsory disposition of collateral.","body":"(a) A secured party may accept collateral in full or partial satisfaction of the obligation it secures only if:\n(1) The debtor consents to the acceptance under subsection (c) of this section;\n(2) The secured party does not receive, within the time set forth in subsection (d) of this section, a notification of objection to the proposal authenticated by:\n(A) a person to which the secured party was required to send a proposal under section 28-9-621; or\n(B) any other person, other than the debtor, holding an interest in the collateral subordinate to the security interest that is the subject of the proposal; and\n(3) Subsection (e) of this section does not require the secured party to dispose of the collateral or the debtor waives the requirement pursuant to section 28-9-624.\n(b) A purported or apparent acceptance of collateral under this section is ineffective unless:\n(1) The secured party consents to the acceptance in an authenticated record or sends a proposal to the debtor; and\n(2) The conditions of subsection (a) of this section are met.\n(c) For purposes of this section:\n(1) A debtor consents to an acceptance of collateral in partial satisfaction of the obligation it secures only if the debtor agrees to the terms of the acceptance in a record authenticated after default; and\n(2) A debtor consents to an acceptance of collateral in full satisfaction of the obligation it secures only if the debtor agrees to the terms of the acceptance in a record authenticated after default or the secured party:\n(A) sends to the debtor after default a proposal that is unconditional or subject only to a condition that collateral not in the possession of the secured party be preserved or maintained;\n(B) in the proposal, proposes to accept collateral in full satisfaction of the obligation it secures; and\n(C) does not receive a notification of objection authenticated by the debtor within twenty (20) days after the proposal is sent.\n(d) To be effective under subsection (a)(2) of this section, a notification of objection must be received by the secured party:\n(1) In the case of a person to which the proposal was sent pursuant to section 28-9-621, within twenty (20) days after notification was sent to that person; and\n(2) In other cases:\n(A) within twenty (20) days after the last notification was sent pursuant to section 28-9-621; or\n(B) if a notification was not sent, before the debtor consents to the acceptance under subsection (c) of this section.\n(e) A secured party that has taken possession of collateral shall dispose of the collateral pursuant to section 28-9-610 within the time specified in subsection (f) of this section if:\n(1) Sixty percent (60%) of the cash price has been paid in the case of a purchase-money security interest in consumer goods; or\n(2) Sixty percent (60%) of the principal amount of the obligation secured has been paid in the case of a nonpurchase-money security interest in consumer goods.\n(f) To comply with subsection (e) of this section, the secured party shall dispose of the collateral:\n(1) Within ninety (90) days after taking possession; or\n(2) Within any longer period to which the debtor and all secondary obligors have agreed in an agreement to that effect entered into and authenticated after default.","path":["TITLE 28 COMMERCIAL TRANSACTIONS","CHAPTER 9 SECURED TRANSACTIONS","PART 6. DEFAULT"],"source_url":"https://legislature.idaho.gov/statutesrules/idstat/title28/t28ch9/sect28-9-620/","current_through":"2026 Legislative Session","vintage":"","retrieved_at":"2026-09-04T11:18:21Z","sha256":"03456a8f443e5bf9befaaedc32ce1b434fd7d7b91153dbab48654b046b82b0c4","source_id":"us-id","stale":false,"prev":"us-id/idaho-code-28-9-619","next":"us-id/idaho-code-28-9-621"},"notice":"GroundRules: Original legal text. Not legal advice."}