N.Y. UCC Law § 9-209
This is the official text of N.Y. UCC Law § 9-209, part of New York’s UCC Law — part of the compiled statutory law of New York, published by the state as "UCC Law." Browse the sections below, each linked to its official government source.
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Duties of Secured Party If Account Debtor Has Been Notified of Assignment
Official statutory text
Section 9--209. Duties of Secured Party If Account Debtor Has Been\n Notified of Assignment.\n (a) Applicability of section. Except as otherwise provided in\nsubsection (c), this section applies if:\n (1) there is no outstanding secured obligation; and\n (2) the secured party is not committed to make advances, incur\n obligations, or otherwise give value.\n (b) Duties of secured party after receiving demand from debtor. Within\n10 days after receiving a signed demand by the debtor, a secured party\nshall send to an account debtor that has received notification under\nSection 9--406(a) or 12--106(b) of an assignment to the secured party as\nassignee a signed record that releases the account debtor from any\nfurther obligation to the secured party.\n (c) Inapplicability to sales. This section does not apply to an\nassignment constituting the sale of an account, chattel paper, or\npayment intangible.\n
Status: in_force · Read it on the official government site
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