{"data":{"id":"us-la/rs-10-9-622","jurisdiction":"us-la","citation":"RS 10:9-622","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 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 Chapter.","path":["TITLE 10. COMMERCIAL LAWS"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=74507","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T04:50:10Z","sha256":"fdc6ddff36e5f15ca4f1fd9f6ddd41607e5417f660bfe1ea8ec237484d2d38cc","source_id":"us-la","stale":false,"prev":"us-la/rs-10-9-621","next":"us-la/rs-10-9-623"},"notice":"GroundRules: Original legal text. Not legal advice."}