44-6004. Assignment or transfers
A. The provisions of this section shall apply notwithstanding any law to the contrary.
B. An assignee may purchase or acquire any retail installment contract or retail charge account agreement or any outstanding balance under either from a seller or holder on terms, conditions and price as may be mutually agreed upon.
C. Notice to the buyer of the assignment and any requirement that the transferor be deprived of dominion over payments upon a retail installment contract or retail charge account agreement or over the goods if returned to or repossessed by the seller or holder, is not necessary to the validity of a written assignment of the retail installment contract or retail charge account agreement or any outstanding balance under either as against creditors, subsequent purchasers, pledgees, mortgagees or lien claimants of the transferor.
D. Unless the buyer has notice of the assignment of his retail installment contract, retail charge account agreement or any outstanding balance under either, payment made by the buyer to the holder last known to him is binding upon all subsequent holders.
E. A holder may acquire from a retail seller or another holder invoices or other memoranda evidencing retail sales on such terms, conditions and price, discount or other charge as may be mutually agreed upon. Such price, discount or other charge is not a part of the time price differential or delinquency charge permitted.
Section: Previous 44-5005 44-5006 44-5007 44-5008 44-5501 44-6001 44-6002 44-6004 44-6005 44-6006 44-6501 44-6551 44-6561 44-6701 44-6702 NextLast modified: October 13, 2016