Vermont § 622 - § 9—622.
Full text of Vermont Vermont Statutes Online § 622 — § 9—622., with citation guidance and answers to common questions.
§ 622. § 9—622.
- 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,
whether or not the secured party sends or is required to send its proposal to the
holder of the interest. However, any person to which the secured party was required
to send, but did not send, its proposal has the remedy provided by subsection 9—625(b) of this title. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
Frequently Asked Questions About Vermont § 622
What does Vermont Statutes Online § 622 cover?
Section 622 ("§ 9—622.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 622?
A common citation format is "Vermont Statutes Online § 622" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 622 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.