§490:9-209  Duties of secured party if
account debtor has been notified of assignment.  (a)  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)  Within ten days after receiving an
authenticated demand by the debtor, a secured party shall send to an account
debtor that has received notification of an assignment to the secured party as
assignee under section 490:9-406(a) an authenticated record that releases the
account debtor from any further obligation to the secured party.



(c)  This section does not apply to an
assignment constituting the sale of an account, chattel paper, or payment
intangible. [L 2000, c 241, pt of §1]