Florida § 679.622 Effect of acceptance of collateral

Florida Statutes

§ 679.622 — Effect of acceptance of collateral

Florida § 679.622

TitleXXXIX

Ch. 679UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS

This text of Florida § 679.622 (Effect of acceptance of collateral) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 679.622 (2026).

Text

(1)A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures:

(a)Discharges the obligation to the extent consented to by the debtor;

(b)Transfers to the secured party all of a debtor’s rights in the collateral;

(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 (d) Terminates any other subordinate interest.

(2)A subordinate interest is discharged or terminated under subsection (1), even if the secured party fails to comply with this chapter.

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(1) A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures: (a) Discharges the obligation to the extent consented to by the debtor; (b) Transfers to the secured party all of a debtor’s rights in the collateral; (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 (d) Terminates any other subordinate interest.

(2) A subordinate interest is discharged or terminated under subsection (1), even if the secured party fails to comply with this chapter.