Tex. Bus. & Com. Code § 9.622 · Subchapter F. DEFAULT
EFFECT OF ACCEPTANCE OF COLLATERAL.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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), even if the secured party fails to comply with this chapter.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BC/htm/BC.9.htm
- Text hash
- sha256 29c57e40c3238b67c6c71ccde531debe5b0c44eaab71b61c19185976079d022d
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 3 provisions
Provisions in this library whose text cites Tex. Bus. & Com. Code § 9.622. Each shows the citation as that text prints it.
Business & Commerce Code
- Tex. Bus. & Com. Code § 9.102DEFINITIONS AND INDEX OF DEFINITIONS.Printed as Sections 9.620, 9.621, and 9.622
- Tex. Bus. & Com. Code § 9.602WAIVER AND VARIANCE OF RIGHTS AND DUTIES.Printed as Sections 9.620, 9.621, and 9.622
- Tex. Bus. & Com. Code § 9.623RIGHT TO REDEEM COLLATERAL.Printed as Section 9.622
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.