Arizona § 47-9622 - Effect of acceptance of collateral
Full text of Arizona Arizona Revised Statutes § 47-9622 — Effect of acceptance of collateral, with citation guidance and answers to common questions.
§ 47-9622. Effect of acceptance of collateral
A. 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. A subordinate interest is discharged or terminated under subsection A of this section, even if the secured party fails to comply with this chapter.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 47-9622
What does Arizona Revised Statutes § 47-9622 cover?
Section 47-9622 ("Effect of acceptance of collateral") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 47-9622?
A common citation format is "Arizona Revised Statutes § 47-9622" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 47-9622 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.