Fla. Stat. § 679.209
Duties of secured party if account debtor has been notified of assignment
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2025
As of January 1, 2011
(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.
(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 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 s. 679.4061(1) an authenticated record that releases the account debtor from any further obligation to the secured party.
(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 s. 669.106(2) or s. 679.4016(1) 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.
(3) This section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible.
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.