North Carolina § 25-9-622 - Effect of acceptance of collateral.
Full text of North Carolina North Carolina General Statutes § 25-9-622 — Effect of acceptance of collateral., with citation guidance and answers to common questions.
§ 25-9-622. Effect of acceptance of collateral.
Effect of acceptance. - 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. 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. History (2000-169, s. 1.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 25-9-622
What does North Carolina General Statutes § 25-9-622 cover?
Section 25-9-622 ("Effect of acceptance of collateral.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. 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 North Carolina § 25-9-622?
A common citation format is "North Carolina General Statutes § 25-9-622" (North Carolina). 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 North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 25-9-622 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina 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 North Carolina.