Arizona Statutes

§ 47-9406 — Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles and promissory notes ineffective

Arizona·Title 47 Arizona Revised Statutes·Ch. 9 SECURED TRANSACTIONS·Art. 4 Rights of Third Parties
A.Subject to subsections B through H of this section, an account debtor on an account, chattel paper or a payment intangible may discharge its obligation by paying the assignor until, but not after, the account debtor receives a notification, authenticated by the assignor or the assignee, that the amount due or to become due has been assigned and that payment is to be made to the assignee. After receipt of the notification, the account debtor may discharge its obligation by paying the assignee and may not discharge the obligation by paying the assignor.
B.Subject to subsection H of this section, notification is ineffective under subsection A of this section:
1.If it does not reasonably identify the rights assigned;
2.To the extent that an agreement between an account debtor and a se

Free access — add to your briefcase to read the full text and ask questions with AI

Arizona § 47-9406 (Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles and promissory notes ineffective) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Related

Ara Inc. v. City of Glendale
360 F. Supp. 3d 957 (D. Arizona, 2019)
30 case citations
Pavilion Hotel, Inc. v. Valley National Bank
885 P.2d 186 (Court of Appeals of Arizona, 1994)
7 case citations

Nearby Sections

15
View on official source ↗