{"data":{"id":"us-ky/krs-355.9-622","jurisdiction":"us-ky","citation":"KRS 355.9-622","heading":"Effect of acceptance of collateral.","body":"(1) A secured party's acceptance of collateral in full or partial satisfaction of the\nobligation it secures:\n(a) Discharges the obligation to the extent consented to by the debtor;\n(b) Transfers to the secured party all of a debtor's rights in the collateral;\n(c) Discharges the security interest or agricultural lien that is the subject of the\ndebtor's consent and any subordinate security interest or other subordinate\nlien; and\n(d) Terminates any other subordinate interest.\n(2) A subordinate interest is discharg ed or terminated under subsection (1) of this\nsection, even if the secured party fails to comply with this article.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33854","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:49Z","sha256":"4fe397eb861503916e96c62c6ce6407061b407d39a5f52655857be2fc141fca8","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.9-621","next":"us-ky/krs-355.9-623"},"notice":"GroundRules: Original legal text. Not legal advice."}