Arizona § 47-9621 Notification of proposal to accept collateral

Arizona Statutes

§ 47-9621 — Notification of proposal to accept collateral

Arizona § 47-9621

Title 47Arizona Revised Statutes

Ch. 9SECURED TRANSACTIONS

Art. 6Default

This text of Arizona § 47-9621 (Notification of proposal to accept collateral) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 47-9621 (2026).

Text

A. A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: 1. Any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral; 2. Any other secured party or lienholder that, ten days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:

(a)Identified the collateral;

(b)Was indexed under the debtor's name as of that date; and

(c)Was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and 3. Any other secured

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A. A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to:

1. Any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral;

2. Any other secured party or lienholder that, ten days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:

(a) Identified the collateral;

(b) Was indexed under the debtor's name as of that date; and

(c) Was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and

3. Any other secured party that, ten days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation or treaty described in section 47-9311, subsection A.

B. A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection A of this section.