Del. Code tit. 6 § 9-209

Current through 2024 Legislative Session Act Chapter 269
Section 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 a signed demand by the debtor, a secured party shall send to an account debtor that has received notification under Section 9-406(a) or 12-106(b) of an assignment to the secured party as assignee under 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.

6 Del. C. § 9-209

Amended by Laws 2023 , ch. 174, s 51, eff. 8/18/2023.
72 Del. Laws, c. 401, § 1.;