Nevada · Through 2025 session (NRS as revised 2026-08-25) · Newer source version available

NRS 104.9209: Duties of secured party if account debtor has been notified of assignment.

Where this section sits in the code

TITLE 8 — COMMERCIAL INSTRUMENTS AND TRANSACTIONS
CHAPTER 104 - UNIFORM COMMERCIAL CODE—ORIGINAL ARTICLES
SECURED TRANSACTIONS
Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement

1. Except as otherwise provided in subsection 3, this section applies if:

(a) There is no outstanding secured obligation; and

(b) The secured party is not committed to make advances, incur obligations or otherwise give value.

2. 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 subsection 1 of NRS 104.9406 or subsection 2 of NRS 104B.12106 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.

3. This section does not apply to an assignment constituting the sale of an account, chattel paper or payment intangible.

Collected 2026-09-03T05:51:31Z. Source file · JSON

Browse this collection