§ 17:16C-46 — Sale, transfer or assignment without notice to retail buyer; payment or tender to last known holder

If a retail installment contract is lawfully sold, transferred or assigned, pursuant to the provisions of this act, and a written notice of such sale, transfer or assignment setting forth the name and address of the new holder and of the person authorized to receive future payments on such contract is not given to the retail buyer, any payment or tender of payment made to and any service of notice on the last known holder by the retail buyer shall be binding upon any subsequent holder. L.1960, c. 40, p. 159, s. 46.