Wisconsin § 409.622 Effect of acceptance of collateral.

Wisconsin Statutes

§ 409.622 — Effect of acceptance of collateral.

Wisconsin § 409.622

Ch. 409Uniform commercial code — secured transactions

Subch.subch. VI of ch. 409 SUBCHAPTER VI

DEFAULT

This text of Wisconsin § 409.622 (Effect of acceptance of collateral.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 409.622 (2026).

Text

409.622 409.622(1) (1) Effect of acceptance. A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures: 409.622(1)(a) (a) Discharges the obligation to the extent consented to by the debtor; 409.622(1)(b) (b) Transfers to the secured party all of a debtor’s rights in the collateral; 409.622(1)(c) (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 409.622(1)(d) (d) Terminates any other subordinate interest. 409.622(2) (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.

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409.622
409.622(1) (1) Effect of acceptance. A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures:
409.622(1)(a) (a) Discharges the obligation to the extent consented to by the debtor;
409.622(1)(b) (b) Transfers to the secured party all of a debtor’s rights in the collateral;
409.622(1)(c) (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
409.622(1)(d) (d) Terminates any other subordinate interest.
409.622(2) (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.