{"data":{"id":"us-wi/wis.-stat.-409.622","jurisdiction":"us-wi","citation":"Wis. Stat. § 409.622","heading":"Effect of acceptance of collateral.","body":"(1) Effect of acceptance. A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures:\n(a) Discharges the obligation to the extent consented to by the debtor;\n(b) Transfers to the secured party all of a debtor’s rights in the collateral;\n(c) 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(d) Terminates any other subordinate interest.\n(2) Discharge of subordinate interest notwithstanding noncompliance. A subordinate interest is discharged or terminated under sub. (1), even if the secured party fails to comply with this chapter.","path":["Chs. 401-411, Uniform Commercial Code","Chapter 409 Uniform Commercial Code — Secured Transactions","SUBCHAPTER VI DEFAULT"],"source_url":"https://docs.legis.wisconsin.gov/document/statutes/409.622","current_through":"2023-24 Wisconsin Statutes updated through 2025 Wis. Act 247 (published 9-4-26)","vintage":"","retrieved_at":"2026-09-05T12:01:23Z","sha256":"44d41fa4333ed01a958c532df2d89dee5d0b12813a60d90e1fd88dc160fe17fc","source_id":"us-wi","stale":false,"prev":"us-wi/wis.-stat.-409.621","next":"us-wi/wis.-stat.-409.623"},"notice":"GroundRules: Original legal text. Not legal advice."}