§ 7-205. Acceptance of guarantee or collateral does not waive lien

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The acceptance by the vendor of any guarantee, endorsement, collateral, or other security to insure the full payment of any vendor's lien, may not be construed as a waiver of the lien. However, the purchaser shall be credited with the proceeds from the sale of any collateral or other securities.

HISTORY: An. Code 1957, art. 21, § 7-205; 1974, ch. 12, § 2.

                    
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