RCW 62A.9A-622
114 words·~1 min read·
/wa/title-62a/chapter-62a-9a/62a-9a-622·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Effect of acceptance. A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures:
(1)Discharges the obligation to the extent consented to by the debtor;
(2)Transfers to the secured party all of a debtor's rights in the collateral;
(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
(4)Terminates any other subordinate interest.
(b)Discharge of subordinate interest notwithstanding noncompliance. A subordinate interest is discharged or terminated under subsection
(a)of this section, even if the secured party fails to comply with this Article.
[2000 c 250 s 9A-622.]