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H.B. 888
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VETOES
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(2) To the extent that an agreement between an account debtor and a
seller of a payment intangible limits the account debtor's duty to pay a person other
than the seller and the limitation is effective under law other than this article; or
(3) At the option of an account debtor, if the notification notifies the
account debtor to make less than the full amount of any installment or other periodic
payment to the assignee, even if:
(A) Only a portion of the account, chattel paper, or payment
intangible has been assigned to that assignee;
(B) A portion has been assigned to another assignee; or
(C) The account debtor knows that the assignment to that assignee
is limited.
(c) Subject to subsection (h), if requested by the account debtor, an assignee
shall seasonably furnish reasonable proof that the assignment has been made. Unless
the assignee complies, the account debtor may discharge its obligation by paying the
assignor, even if the account debtor has received a notification under subsection (a).
(d) Except as otherwise provided in subsection (e) and §§ 2A-303 of this article
and 9-407, and subject to subsection (h), a term in an agreement between an account
debtor and an assignor or in a promissory note is ineffective to the extent that it:
(1) Prohibits, restricts, or requires the consent of the account debtor or
person obligated on the promissory note to the assignment or transfer of, or the
creation, attachment, perfection, or enforcement of a security interest in, the account,
chattel paper, payment intangible, or promissory note; or
(2) Provides that the assignment or transfer or the creation, attachment,
perfection, or enforcement of the security interest may give rise to a default, breach,
right of recoupment, claim, defense, termination, right of termination, or remedy
under the account, chattel paper, payment intangible, or promissory note.
(e) Subsection (d) does not apply to the sale of a payment intangible or
promissory note.
(f) Except as otherwise provided in §§ 2A-303 of this article and 9-407, and
subject to subsections (h) and (i) of this section, a rule of law, statute, or regulation
that prohibits, restricts, or requires the consent of a government, governmental body
or official, or account debtor to the assignment or transfer of, or creation of a security
interest in, an account or chattel paper is ineffective to the extent that the rule of law,
statute, or regulation:
(1) Prohibits, restricts, or requires the consent of the government,
governmental body or official, or account debtor to the assignment or transfer of, or
the creation of a security interest in, the account or chattel paper; or
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- 5260 -
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