New Jersey § 12a:9-622
Full text of New Jersey New Jersey Statutes § 12a:9-622, with citation guidance and answers to common questions.
§ 12a:9-622.
(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) , even if the secured party fails to comply with this chapter.
Frequently Asked Questions About New Jersey § 12a:9-622
What does New Jersey Statutes § 12a:9-622 cover?
Section 12a:9-622 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 12a:9-622?
A common citation format is "New Jersey Statutes § 12a:9-622" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 12a:9-622 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.