{"data":{"id":"us-mi/mich.-comp.-laws-440.9622","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.9622","heading":"Effect of acceptance of collateral.","body":"Sec. 9622.\n\nA secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures does all of the following:\n\nDischarges the obligation to the extent consented to by the debtor.\n\nTransfers to the secured party all of a debtor's rights in the collateral.\n\nDischarges the security interest or agricultural lien that is the subject of the debtor's consent and any subordinate security interest or other subordinate lien.\n\nTerminates any other subordinate interest.\n\nA subordinate interest is discharged or terminated under subsection (1), even if the secured party fails to comply with this article.","path":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-9622","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"1dbfecd4deb12f6644b5641818e12cc5c4083d3ce609edb4c0f9f0054e502edb","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.9621","next":"us-mi/mich.-comp.-laws-440.9623"},"notice":"GroundRules: Original legal text. Not legal advice."}