§ 34.1-9-318 — 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

(a) 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.
(b) 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.