{"data":{"id":"us-tx/tex.-business-commerce-code-9.622","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 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.\nAdded by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.","path":["BUSINESS AND COMMERCE CODE","TITLE 1. UNIFORM COMMERCIAL CODE","CHAPTER 9. SECURED TRANSACTIONS","SUBCHAPTER F. DEFAULT"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.9.htm#9.622","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"efc605570676e7ad35ada9eb1a76eb68d343a25fb5886f8ff205b5280a7d2252","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-9.621","next":"us-tx/tex.-business-commerce-code-9.623"},"notice":"GroundRules: Original legal text. Not legal advice."}