3. Title-Clearing Systems Under Other Law. Applicable non-UCC law (e.g., a certificate-of-title statute, federal registry rules, or the like) may provide a means by which the secured party may obtain or transfer record or legal title for the purpose of a disposition of the property under this Article. The mechanism provided by this section is in addition to any title-clearing provision under law other than this Article.

§9-1620.__Acceptance of collateral in full or partial

satisfaction of obligation; complusory

disposition of collateral

(1)__Except as otherwise provided in subsection (7), a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if:

(a)__The debtor consents to the acceptance under subsection (3);

(b)__The secured party does not receive, within the time set forth in subsection (4), a notification of objection to the proposal authenticated by:

(i)__A person to which the secured party was required to send a proposal under section 9-1621; or

(ii)__Any other person, other than the debtor, holding an interest in the collateral subordinate to the security interest that is the subject of the proposal;

(c)__If the collateral is consumer goods, the collateral is not in the possession of the debtor when the debtor consents to the acceptance; and

(d)__Subsection (5) does not require the secured party to dispose of the collateral or the debtor waives the requirement pursuant to section 9-1624.

(2)__A purported or apparent acceptance of collateral under this section is ineffective unless:

(a)__The secured party consents to the acceptance in an authenticated record or sends a proposal to the debtor; and

(b)__The conditions of subsection (1) are met.

(3)__For purposes of this section: