Nevada § 104.9209 Duties of secured party if account debtor has been notified of assignment

Nevada Statutes

§ 104.9209 — Duties of secured party if account debtor has been notified of assignment

Nevada·Title 8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS·Ch. 104 Uniform· Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement

1. Except as otherwise provided in subsection 3, this section applies if:

(a)There is no outstanding secured obligation; and

(b)The secured party is not committed to make advances, incur obligations or otherwise give value. 2. Within 10 days after receiving a signed demand by the debtor, a secured party shall send to an account debtor that has received notification under subsection 1 of NRS 104.9406 or subsection 2 of NRS 104B.12106 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. 3. This section does not apply to an assignment constituting the sale of an account, chattel paper or payment intangible.

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

1. Except as otherwise provided in subsection 3, this section applies if:
(a) There is no outstanding secured obligation; and
(b) The secured party is not committed to make advances, incur obligations or otherwise give value.
2. Within 10 days after receiving a signed demand by the debtor, a secured party shall send to an account debtor that has received notification under subsection 1 of NRS 104.9406 or subsection 2 of NRS 104B.12106 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.
3. This section does not apply to an assignment constituting the sale of an account, chattel paper or payment intangible.

Nevada § 104.9209 (Duties of secured party if account debtor has been notified of assignment) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.