{"data":{"id":"us-mn/minn.-stat.-336.9-622","jurisdiction":"us-mn","citation":"Minn. Stat. § 336.9-622","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":["TRADE REGULATIONS, CONSUMER PROTECTION","CHAPTER 336. UNIFORM COMMERCIAL CODE","SUBPART 2. DUTIES AND OPERATION OF FILING OFFICE","Part 6 DEFAULT SUBPART 1. DEFAULT AND ENFORCEMENT OF SECURITY INTEREST"],"source_url":"https://www.revisor.mn.gov/statutes/cite/336.9-622","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:43Z","sha256":"fdff841be8e6f5064b693e39a2c69c5adebb9f52bc9d723bf1f37f3c1fe80796","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-336.9-621","next":"us-mn/minn.-stat.-336.9-623"},"notice":"GroundRules: Original legal text. Not legal advice."}