# Commercial Law (GCL)

## Title 9. Secured Transactions

### Subtitle 6. Default

#### Section 9-622

(a) 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) A subordinate interest is discharged or terminated under subsection (a), even if the secured party fails to comply with this title.

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Md. Code Ann., Com. Law (as displayed at mgaleg.maryland.gov, October 16, 2026)