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Article 1. Transfer of Things in Action - California Civil Code Section 955.1

955.1.  (a) Except as provided in Sections 954.5 and 955 and subject
to subdivisions (b) and (c), a transfer other than one intended to
create a security interest pursuant to paragraph (1) or (3) of
subdivision (a) of Section 9109 of the Commercial Code, of any
payment intangible, as defined in Section 9102 of the Commercial
Code, and any transfer of accounts, chattel paper, payment
intangibles, or promissory notes excluded from the coverage of
Division 9 of the Commercial Code by paragraph (4) of subdivision (d)
of Section 9109 of the Commercial Code shall be deemed perfected as
against third persons upon there being executed and delivered to the
transferee an assignment thereof in writing.
   (b) As between bona fide assignees of the same right for value
without notice, the assignee first giving notice of the right to the
obligor in writing has priority.
   (c) The assignment is not, of itself, notice to the obligor so as
to invalidate any payments made by the obligor to the transferor.
   (d) This section does not apply to transfers or assignments of
water supply property, as defined in Section 849 of the Public
Utilities Code.
   (e) This section does not apply to transfers or assignments of
recovery property, as defined in Section 848 of the Public Utilities
Code.




Section: Previous  953  954  954.5  955  955.1

Last modified: February 16, 2015