Mississippi § 75-9-622 - Effect of acceptance of collateral.
Full text of Mississippi Mississippi Code of 1972 Annotated § 75-9-622 — Effect of acceptance of collateral., with citation guidance and answers to common questions.
§ 75-9-622. Effect of acceptance of collateral.
A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures: Discharges the obligation to the extent consented to by the debtor; Transfers to the secured party all of a debtor’s rights in the collateral; 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 Terminates any other subordinate interest. A subordinate interest is discharged or terminated under subsection (a), even if the secured party fails to comply with this article.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 75-9-622
What does Mississippi Code of 1972 Annotated § 75-9-622 cover?
Section 75-9-622 ("Effect of acceptance of collateral.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. 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 Mississippi § 75-9-622?
A common citation format is "Mississippi Code of 1972 Annotated § 75-9-622" (Mississippi). 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 Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 75-9-622 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi 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 Mississippi.