{"data":{"id":"us-nc/n.c.-gen.-stat.-25-9-622","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-9-622","heading":"Effect of acceptance of collateral.","body":"(a)\tEffect of acceptance. - A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures:\n(1)\tDischarges the obligation to the extent consented to by the debtor;\n(2)\tTransfers to the secured party all of a debtor's rights in the collateral;\n(3)\tDischarges 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)\tTerminates any other subordinate interest.\n(b)\tDischarge of subordinate interest notwithstanding noncompliance. - A subordinate interest is discharged or terminated under subsection (a) of this section, even if the secured party fails to comply with this Article. (2000-169, s. 1.)","path":["Chapter 25. Uniform Commercial Code.","Article 9. Secured Transactions.","Part 6. Default."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-9-622.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"bb7ec6a8f97d0b9aeb22fbf7cdd5c6e43cbecdd74eca77f91bcb1da50cccae98","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-9-621","next":"us-nc/n.c.-gen.-stat.-25-9-623"},"notice":"GroundRules: Original legal text. Not legal advice."}