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Washington Revised Code Title 62A. Uniform Commercial Code § 62A.9A-209. Duties of secured party if account debtor has been notified of assignment

Current as of April 06, 2022 | Updated by FindLaw Staff

(a)Applicability of section. Except as otherwise provided in subsection (c) of this section, 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 a signed demand by the debtor, a secured party shall send to an account debtor that has received notification under RCW 62A.9A-406(a) or 62A.12-106(b) 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.

(c)Inapplicability to sales. This section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible.

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Cite this article: FindLaw.com - Washington Revised Code Title 62A. Uniform Commercial Code § 62A.9A-209. Duties of secured party if account debtor has been notified of assignment - last updated April 06, 2022 | https://codes.findlaw.com/wa/title-62a-uniform-commercial-code/wa-rev-code-62a-9a-209/

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