Oklahoma Statutes

§ 12A-1-9-406 — Discharge of account debtor; notification of

Oklahoma·Title 12A Uniform Commercial Code
assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective. DISCHARGE OF ACCOUNT DEBTOR; NOTIFICATION OF ASSIGNMENT; IDENTIFICATION AND PROOF OF ASSIGNMENT; RESTRICTIONS ON ASSIGNMENT OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, AND PROMISSORY NOTES INEFFECTIVE (a) Subject to subsections (b) through (k) of this section, an account debtor on an account, chattel paper, or a payment intangible may discharge its obligation by paying the assignor until, but not after, the account debtor receives a notification, signed by the assignor or the assignee, that the amount due or to become due has been assigned and that payment is to be made to the assignee. After receipt of the notification, the

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Related

§ 3239
12 U.S.C. § 3239

Legislative History

Added by Laws 2000, c. 371, § 75, eff. July 1, 2001. Amended by Laws 2004, c. 153, § 5, eff. Nov. 1, 2004; Laws 2015, c. 374, § 8, eff. Nov. 1, 2015; Laws 2024, c. 13, § 74, eff. Nov. 1, 2024.

Nearby Sections

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