California Commercial Code

§ 12106

COM § 12106 Effective Jan 1, 2024Div. 12

(a)An account debtor on a controllable account or controllable payment intangible may discharge its obligation by paying either of the following:

(1)The person having control of the controllable electronic record that evidences the controllable account or controllable payment intangible.

(2)Except as provided in subdivision (b), a person that formerly had control of the controllable electronic record.

…

Legislative history

Added by Stats. 2023, Ch. 210, Sec. 90. (SB 95) Effective January 1, 2024.