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Effect of Acceptance of Collateral.

RSA 382-A:9-622
in effect
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382-A:9-622. Effect of Acceptance of Collateral. (a)Effect of acceptance. 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)Discharge of subordinate interest notwithstanding noncompliance. A subordinate interest is discharged or terminated under subsection (a), even if the secured party fails to comply with this article. Source. 2001, 102:25, eff. July 1, 2001.
Source: New Hampshire General Court (gc.nh.gov)URL: https://gc.nh.gov/rsa/html/XXXIV-A/382-A/382-A-9-622.htmFetched: 10/20/2026

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