{"data":{"id":"us-sc/s.c.-code-ann.-36-9-622","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 36-9-622","heading":"Effect of acceptance of collateral.","body":"(a) 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) A subordinate interest is discharged or terminated under subsection (a), even if the secured party fails to comply with this chapter.","path":["Title 36 - COMMERCIAL CODE","CHAPTER 9 Commercial Code—Secured Transactions","Part 6 Default"],"source_url":"https://www.scstatehouse.gov/code/t36c009.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:08:49Z","sha256":"5370614cef8d2a3222f24fa87fc1617ed42b537e024f7be89c8194b415d05300","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-36-9-621","next":"us-sc/s.c.-code-ann.-36-9-623"},"notice":"GroundRules: Original legal text. Not legal advice."}