Effect of acceptance of collateral.
Miss. Code Ann. § 75-9-622
in effectA 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.
A subordinate interest is discharged or terminated under subsection (a), even if the secured party fails to comply with this article.
Source: Public.Resource.Org MS CodeURL: https://unicourt.github.io/cic-code-ms/transforms/ms/ocms/r78/gov.ms.code.title.75.htmlFetched: 6/9/2026