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California Commercial Code

§ 9620

COM § 9620 Effective Jan 1, 2024Div. 9 · Ch. 6

Statute text

View on leginfo.ca.gov
(a)Except as otherwise provided in subdivision (g), a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if all of the following conditions are satisfied:
(1)The debtor consents to the acceptance under subdivision (c).
(2)The secured party does not receive, within the time set forth in subdivision (d), a notification of objection to the proposal signed by either of the following:
…

Legislative history

Amended by Stats. 2023, Ch. 210, Sec. 70. (SB 95) Effective January 1, 2024.

Source: California Commercial Code § 9620 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.