Indiana § 26-1-9.1-209 Duties of secured party if account debtor has been notified of
assignment

Indiana Statutes

§ 26-1-9.1-209 — Duties of secured party if account debtor has been notified of assignment

Indiana § 26-1-9.1-209

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 9.1Secured Transactions

This text of Indiana § 26-1-9.1-209 (Duties of secured party if account debtor has been notified of assignment) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-9.1-209 (2026).

Text

(a)Except as otherwise provided in subsection (c), this section applies if:

(1)there is no outstanding secured obligation; and

(2)the secured party is not committed to make advances, incur obligations, or otherwise give value.

(b)Within ten (10) days after receiving a signed demand by the debtor, a secured party shall send to an account debtor that has received notification under IC 26-1-9.1-406(a) or IC 26-1-12-106(b) of an assignment to the secured party as assignee a signed record that releases the account debtor from any further obligation to the secured party.

(c)This section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible.

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(a) Except as otherwise provided in
subsection (c), this section applies if:
(1) there is no outstanding secured obligation; and
(2) the secured party is not committed to make advances, incur
obligations, or otherwise give value.
(b) Within ten (10) days after receiving a signed demand by the
debtor, a secured party shall send to an account debtor that has received
notification under IC 26-1-9.1-406(a) or IC 26-1-12-106(b) of an
assignment to the secured party as assignee a signed record that
releases the account debtor from any further obligation to the secured
party.
(c) This section does not apply to an assignment constituting the
sale of an account, chattel paper, or payment intangible.