California Commercial Code

§ 9403

COM § 9403 Effective Jan 1, 2001Div. 9 · Ch. 4

Statute text

(a)In this section, “value” has the meaning provided in subdivision (a) of Section 3303.

(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 that satisfies all of the following conditions:

(1)It is taken for value.

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Legislative history

Repealed (by Sec. 19) and added by Stats. 2000, Ch. 1003, Sec. 20. Effective January 1, 2001. Operative July 1, 2001, by Sec. 56 of Ch. 1003.