A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures:
A subordinate interest is discharged or terminated under subsection (a), even if the secured party fails to comply with this article.
Structure Mississippi Code
Title 75 - Regulation of Trade, Commerce and Investments
Chapter 9 - Uniform Commercial Code-Secured Transactions
Subpart 1 - Default and Enforcement of Security Interest
§ 75-9-602. Waiver and variance of rights and duties
§ 75-9-603. Agreement on standards concerning rights and duties
§ 75-9-604. Procedure if security agreement covers real property or fixtures
§ 75-9-605. Unknown debtor or secondary obligor
§ 75-9-606. Time of default for agricultural lien
§ 75-9-607. Collection and enforcement by secured party
§ 75-9-609. Secured party's right to take possession after default
§ 75-9-610. Disposition of collateral after default
§ 75-9-611. Notification before disposition of collateral
§ 75-9-612. Timeliness of notification before disposition of collateral
§ 75-9-613. Contents and form of notification before disposition of collateral: general
§ 75-9-615. Application of proceeds of disposition; liability for deficiency and right to surplus
§ 75-9-616. Explanation of calculation of surplus or deficiency
§ 75-9-617. Rights of transferee of collateral
§ 75-9-618. Rights and duties of certain secondary obligors
§ 75-9-619. Transfer of record or legal title
§ 75-9-621. Notification of proposal to accept collateral
§ 75-9-622. Effect of acceptance of collateral