The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 679
UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS

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F.S. 679.622

679.622 Effect of acceptance of collateral.—

(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 chapter.

History.—s. 7, ch. 2001-198.

F.S. 679.622 on Google Scholar

F.S. 679.622 on Casetext

Amendments to 679.622

Arrestable Offenses / Crimes under Fla. Stat. 679.622

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 679.622.

Annotations, Discussions, Cases:

Cases from cite.case.law:

In GRUBBS CONSTRUCTION COMPANY,, 328 B.R. 873 (Bankr. M.D. Fla. 2005)

. . . . §§ 9-620, 9-622 (adopted in Florida as Florida Statutes sections 679.620, 679.622). . . . Stat. § 679.622. . . . Under section 9-622 of the Uniform Commercial Code and Florida Statutes section 679.622, SouthTrust’s . . .

In MENASCHE, 301 B.R. 757 (Bankr. S.D. Fla. 2003)

. . . or (c) Has accepted collateral in full or partial satisfaction of the obligation it secures under § 679.622 . . .