Tennessee § 47-9-209 Duties of secured party if account debtor has been notified of assignment

Tennessee Statutes

§ 47-9-209 — Duties of secured party if account debtor has been notified of assignment

Tennessee § 47-9-209

Title47

This text of Tennessee § 47-9-209 (Duties of secured party if account debtor has been notified of assignment) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 47-9-209 (2026).

Text

(a)Applicability of section. Except as otherwise provided in subsection (c), this section applies if:

(1)there is no outstanding secured obligation; and (2) the secured party is not committed to make advances, incur obligations, or otherwise give value.

(b)Duties of secured party after receiving demand from debtor. Within 10 days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under § 47-9-406(a) an authenticated record that releases the account debtor from any further obligation to the secured party.

(c)Inapplicability to sales. 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

(a) Applicability of section. Except as otherwise provided in subsection (c), this section applies if: (1) there is no outstanding secured obligation; and (2) the secured party is not committed to make advances, incur obligations, or otherwise give value. (b) Duties of secured party after receiving demand from debtor. Within 10 days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under § 47-9-406(a) an authenticated record that releases the account debtor from any further obligation to the secured party. (c) Inapplicability to sales. This section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible.