Colorado Code
Part 6 - Default
§ 4-9-622. Effect of Acceptance of Collateral







Source: L. 2001: Entire article R&RE, p. 1416, § 1, effective July 1.


Subsection (b) makes clear that subordinate interests are discharged under subsection (a) regardless of whether the secured party complies with this Article. Thus, subordinate interests are discharged regardless of whether a proposal was required to be sent or, if required, was sent. However, a secured party's failure to send a proposal or otherwise to comply with this Article may subject the secured party to liability under Section 9-625.

Structure Colorado Code

Colorado Code

Title 4 - Uniform Commercial Code

Article 9 - Secured Transactions

Part 6 - Default

§ 4-9-601. Rights After Default - Judicial Enforcement - Consignor or Buyer of Accounts, Chattel Paper, Payment Intangibles, or Promissory Notes

§ 4-9-602. Waiver and Variance of Rights and Duties

§ 4-9-603. Agreement on Standards Concerning Rights and Duties

§ 4-9-604. Procedure if Security Agreement Covers Real Property or Fixtures

§ 4-9-605. Unknown Debtor or Secondary Obligor

§ 4-9-606. Time of Default for Agricultural Lien

§ 4-9-607. Collection and Enforcement by Secured Party

§ 4-9-608. Application of Proceeds of Collection or Enforcement - Liability for Deficiency and Right to Surplus

§ 4-9-609. Secured Party's Right to Take Possession After Default

§ 4-9-610. Disposition of Collateral After Default

§ 4-9-611. Notification Before Disposition of Collateral

§ 4-9-612. Timeliness of Notification Before Disposition of Collateral

§ 4-9-613. Contents and Form of Notification Before Disposition of Collateral: General

§ 4-9-614. Contents and Form of Notification Before Disposition of Collateral: Consumer-Goods Transaction

§ 4-9-615. Application of Proceeds of Disposition; Liability for Deficiency and Right to Surplus

§ 4-9-616. Explanation of Calculation of Surplus or Deficiency - Definitions

§ 4-9-617. Rights of Transferee of Collateral

§ 4-9-618. Rights and Duties of Certain Secondary Obligors

§ 4-9-619. Transfer of Record or Legal Title

§ 4-9-620. Acceptance of Collateral in Full or Partial Satisfaction of Obligation - Compulsory Disposition of Collateral

§ 4-9-621. Notification of Proposal to Accept Collateral

§ 4-9-622. Effect of Acceptance of Collateral

§ 4-9-623. Right to Redeem Collateral

§ 4-9-624. Waiver

§ 4-9-625. Remedies for Secured Party's Failure to Comply With Article

§ 4-9-626. Action in Which Deficiency or Surplus Is in Issue

§ 4-9-627. Determination of Whether Conduct Was Commercially Reasonable

§ 4-9-628. Nonliability and Limitation on Liability of Secured Party - Liability of Secondary Obligor

§ 4-9-629. Secured Party's Liability When Taking Possession After Default - Legislative Declaration - Fund