Okla. Stat. tit. 12A, § 12A-1-9-209
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-209, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Duties of secured party if account debtor has been
Official statutory text
notified of assignment.
DUTIES OF SECURED PARTY IF ACCOUNT
DEBTOR HAS BEEN NOTIFIED OF ASSIGNMENT
(a) Except as otherwise provided in subsection (c) of this
section, this section applies if:
(1) there is no outstanding secured obligation; and
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 49
(2) the secured party is not committed to make advances, incur
obligations, or otherwise give value.
(b) Within ten (10) days after receiving a signed demand by the
debtor, a secured party shall send to an account debtor that has
received notification under subsection (a) of Section 1-9-406 of
this title or subsection (b) of Section 12-106 of this title 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) This section does not apply to an assignment constituting
the sale of an account, chattel paper, or payment intangible.
DUTIES OF SECURED PARTY IF ACCOUNT
DEBTOR HAS BEEN NOTIFIED OF ASSIGNMENT
(a) Except as otherwise provided in subsection (c) of this
section, this section applies if:
(1) there is no outstanding secured obligation; and
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 49
(2) the secured party is not committed to make advances, incur
obligations, or otherwise give value.
(b) Within ten (10) days after receiving a signed demand by the
debtor, a secured party shall send to an account debtor that has
received notification under subsection (a) of Section 1-9-406 of
this title or subsection (b) of Section 12-106 of this title 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) This section does not apply to an assignment constituting
the sale of an account, chattel paper, or payment intangible.
Status: in_force · Read it on the official government site
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