Effect of acceptance of collateral in satisfaction of obligation.

Nev. Rev. Stat. § 104.9622
in effect
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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 article.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-104.htmlFetched: 10/4/2026

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