Find Bill
Find Your Legislator
Legislative Deadlines
Dec. 9, 2017
RSS Feed Permanent URL -A +A

2016 Statute



Prev Article 9. - SECURED TRANSACTIONSNext


84-9-209.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 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 K.S.A. 2016 Supp. 84-9-406(a), and amendments thereto, 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.

History: L. 2000, ch. 142, § 19; July 1, 2001.



Prev Article 9. - SECURED TRANSACTIONSNext
2017. Powered by KLISS. Rendered: 2017-12-09T21:32:17. Head Rev No: 341153