{"data":{"id":"us-il/810-ilcs-5-9-622","jurisdiction":"us-il","citation":"810 ILCS 5/9-622","heading":"Effect of acceptance of collateral.","body":"(a) Effect of acceptance. 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) Discharge of subordinate interest notwithstanding noncompliance. A subordinate interest is discharged or terminated under subsection (a), even if the secured party fails to comply with this Article.","path":["CHAPTER 810 COMMERCIAL CODE","Uniform Commercial Code."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=2301\u0026ChapterID=66\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"518445a43997df13fff2aeb8cc922550140384f9518ce68066a2ec59a3d374c2","source_id":"us-il","stale":false,"prev":"us-il/810-ilcs-5-9-621","next":"us-il/810-ilcs-5-9-623"},"notice":"GroundRules: Original legal text. Not legal advice."}