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![handle is hein.ali/alicc0357 and id is 1 raw text is:
1
2 AMENDMENTS TO
3 UNIFORM COMMERCIAL CODE
4 ARTICLE 9
5
6 As Approved by
7
8 The American Law Institute
9 May 21-23, 2018
10
11 And
12
13 The National Conference of Commissioners on Uniform State Laws
14 March 1, 2018
15
16
17 Section 9-406 is amended to read:
18
19 SECTION 9-406. DISCHARGE OF ACCOUNT DEBTOR; NOTIFICATION OF
20 ASSIGNMENT; IDENTIFICATION AND PROOF OF ASSIGNMENT; RESTRICTIONS
21 ON ASSIGNMENT OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES,
22 AND PROMISSORY NOTES INEFFECTIVE.
23 (a) [Discharge of account debtor; effect of notification.] Subject to subsections (b)
24 through (i), an account debtor on an account, chattel paper, or a payment intangible may
25 discharge its obligation by paying the assignor until, but not after, the account debtor receives a
26 notification, authenticated by the assignor or the assignee, that the amount due or to become due
27 has been assigned and that payment is to be made to the assignee. After receipt of the
28 notification, the account debtor may discharge its obligation by paying the assignee and may not
29 discharge the obligation by paying the assignor.
30 (b) [When notification ineffective.] Subject to subsection (h), notification is ineffective
31 under subsection (a):
32 (1) if it does not reasonably identify the rights assigned;
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