Section 7-9A-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 debtor who sold certain payment rights generally keeps no legal or equitable interest in the sold collateral; if the buyer’s security interest is unperfected, the debtor is treated as having the same rights and title as sold for certain creditor and purchaser determinations.
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- United States — Alabama
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- en
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Section 7-9A-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.
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