Indiana § 26-1-9.1-318 No interest retained in right to payment that is sold; rights and title of
seller of account or chattel paper with respect to creditors and
purchasers

Indiana Statutes

§ 26-1-9.1-318 — No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers

Indiana § 26-1-9.1-318

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 9.1Secured Transactions

This text of Indiana § 26-1-9.1-318 (No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers) 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 § 26-1-9.1-318 (2026).

Text

(a)A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold.

(b)For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer's security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.

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

(a) A debtor that has sold an account,
chattel paper, payment intangible, or promissory note does not retain
a legal or equitable interest in the collateral sold.
(b) For purposes of determining the rights of creditors of, and
purchasers for value of an account or chattel paper from, a debtor that
has sold an account or chattel paper, while the buyer's security interest
is unperfected, the debtor is deemed to have rights and title to the
account or chattel paper identical to those the debtor sold.