§ 679.622, Fla. Stat. · Part VI. DEFAULT
Effect of acceptance of collateral.
Text — 2026 Florida Statutes
(1) A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures:
(a) Discharges the obligation to the extent consented to by the debtor;
(b) Transfers to the secured party all of a debtor’s rights in the collateral;
(c) 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
(d) Terminates any other subordinate interest.
(2) A subordinate interest is discharged or terminated under subsection (1), even if the secured party fails to comply with this chapter.
Notes and commentary — not statutory text
History
s. 7, ch. 2001-198.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0679/0679.html
- Text hash
- sha256 c748fd6300a180f29da9101ce67cba02cee62ef8694648a9edb89671415f215f
- Composed by
- compose_v2.py 2026-10-04: the Legislature's structured HTML read in document order; verify_v2.py's independent reading agrees character for character
- composed from the Legislature's structured HTML (one source of text; no PDF extraction); a second, independent reading of the same bytes agrees character for character
Cited by 2 provisions
Provisions in this library whose text cites § 679.622, Fla. Stat.. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.