§490:9-403  Agreement not to assert defenses
against assignee.  (a)  In this section, "value" has the meaning
provided in section 490:3-303(a).



(b)  Except as otherwise provided in this
section, an agreement between an account debtor and an assignor not to assert
against an assignee any claim or defense that the account debtor may have
against the assignor is enforceable by an assignee that takes an assignment:



(1)  For value;



(2)  In good faith;



(3)  Without notice of a claim of a property or
possessory right to the property assigned; and



(4)  Without notice of a defense or claim in
recoupment of the type that may be asserted against a person entitled to
enforce a negotiable instrument under section 490:3-305(a).



(c)  Subsection (b) does not apply to defenses
of a type that may be asserted against a holder in due course of a negotiable
instrument under section 490:3-305(b).



(d)  In a consumer transaction, if a record
evidences the account debtor's obligation, law other than this article requires
that the record include a statement to the effect that the rights of an
assignee are subject to claims or defenses that the account debtor could assert
against the original obligee, and the record does not include such a statement:



(1)  The record has the same effect as if the record
included such a statement; and



(2)  The account debtor may assert against an assignee
those claims and defenses that would have been available if the record included
such a statement.



(e)  This section is subject to law other than
this article which establishes a different rule for an account debtor who is an
individual and who incurred the obligation primarily for personal, family, or
household purposes.



(f)  Except as otherwise provided in subsection
(d), this section does not displace law other than this article which gives
effect to an agreement by an account debtor not to assert a claim or defense
against an assignee. [L 2000, c 241, pt of §1]