North Dakota § 41-09-38 (9-318) 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

North Dakota Statutes

§ 41-09-38 — (9-318) 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

North Dakota·Title 41 Uniform Commercial Code·Ch. 41-09 Secured Transactions

of seller of account or chattel paper with respect to creditors and purchasers.

1.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.

2.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.

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of seller of account or chattel paper with respect to creditors and purchasers.
1. 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.
2. 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.

North Dakota § 41-09-38 ((9-318) 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) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.