{"data":{"id":"us-nd/n.d.-cent.-code-41-09-117","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 41-09-117","heading":"(9-622) Effect of acceptance of collateral","body":"1.A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures:\na.Discharges the obligation to the extent consented to by the debtor;\nb.Transfers to the secured party all of a debtor's rights in the collateral;\nc.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\nd.Terminates any other subordinate interest.\n2.A subordinate interest is discharged or terminated under subsection 1, even if the secured party fails to comply with this chapter.","path":["Title 41 Uniform Commercial Code","Chapter 41-09 Secured Transactions"],"source_url":"https://ndlegis.gov/cencode/t41c09.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"5bee88b76efce7d34fe2b492c48c08c87ff1fa0f920d1daaf9c007ebf3e2460a","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-41-09-116","next":"us-nd/n.d.-cent.-code-41-09-118"},"notice":"GroundRules: Original legal text. Not legal advice."}