United States — Louisiana Act or statute

United States — Louisiana legislation

RS 10:9-209

A secured party must, within 10 days after a debtor’s signed demand, send the account debtor a signed record releasing it from further obligation, unless the assignment is a sale of certain listed assets.

account assignmentsdebt collection

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“A secured party must, within 10 days after a debtor’s signed demand, send the account debtor a signed record releasing it from further obligation, unless the assignment is a sale of certain listed assets.”

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RS 10:9-209

A secured party must, within 10 days after a debtor’s signed demand, send the account debtor a signed record releasing it from further obligation, unless the assignment is a sale of certain listed assets.

Section 10:9-209

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§ 10:9-209RS 10:9-209Provision

A secured party must, within 10 days after a debtor’s signed demand, send the account debtor a signed record releasing it from further obligation, unless the assignment is a sale of certain listed assets.

§9-209. Duties of secured party if account debtor has been notified of assignment (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 ten days after receiving a signed demand by the debtor, a secured party shall send to an account debtor that has received notification under R.S. 10:9-406(a) or 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. Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2024, No. 773, §1.
Section 10:9-209Verify source

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