§ 24-4.5-3-406 — Notice of assignment

Notice of Assignment — The debtor is
authorized to pay the original lender until he receives notification of
assignment of rights to payment pursuant to a consumer loan and that
payment is to be made to the assignee. A notification which does not
reasonably identify the rights assigned is ineffective. If requested by the
debtor, the assignee must seasonably furnish reasonable proof that the
assignment has been made and unless he does so the debtor may pay
the original lender.
Formerly: Acts 1971, P.L.366, SEC.4.