<?xml version='1.0' encoding='utf-8'?>
<section article="gcl" article_name="Commercial Law" number="9-621" title_number="9" title_name="Secured Transactions" subtitle_number="6" subtitle_name="Default">
  <level label="a">
    <text>A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to:</text>
    <level label="1">
      <text>Any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral;</text>
    </level>
    <level label="2">
      <text>Any other secured party or lienholder that, 10 days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:</text>
      <level label="A">
        <text>Identified the collateral;</text>
      </level>
      <level label="B">
        <text>Was indexed under the debtor’s name as of that date; and</text>
      </level>
      <level label="C">
        <text>Was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and</text>
      </level>
    </level>
    <level label="3">
      <text>Any other secured party that, 10 days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in § 9-311(a).</text>
    </level>
  </level>
  <level label="b">
    <text>A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection (a).</text>
  </level>
</section>
