§ 25-9-404 – Rights acquired by assignee; claims and defenses against assignee.
25-9-404. Rights acquired by assignee; claims and defenses against assignee. (a) Assignee’s rights subject to terms, claims, and defenses; exceptions. – Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to subsections (b) through (e) of this section, the rights of an assignee are subject to: (1) […]
§ 25-9-405 – Modification of assigned contract.
25-9-405. Modification of assigned contract. (a) Effect of modification on assignee. – A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a breach of […]
§ 25-9-406 – Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective.
25-9-406. Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective. (a) Discharge of account debtor; effect of notification. – Subject to subsections (b) through (i) of this section, an account debtor on an account, chattel paper, or a payment […]
§ 25-9-407 – Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest.
25-9-407. Restrictions on creation or enforcement of security interest in leasehold interest or in lessor’s residual interest. (a) Term restricting assignment generally ineffective. – Except as otherwise provided in subsection (b) of this section, a term in a lease agreement is ineffective to the extent that it: (1) Prohibits, restricts, or requires the consent of […]
§ 25-9-408 – Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective.
25-9-408. Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective. (a) Term restricting assignment generally ineffective. – Except as otherwise provided in subsection (b) of this section, a term in a promissory note or in an agreement between an account debtor and a debtor which relates to a health-care-insurance receivable or […]
§ 25-9-335 – Accessions.
25-9-335. Accessions. (a) Creation of security interest in accession. – A security interest may be created in an accession and continues in collateral that becomes an accession. (b) Perfection of security interest. – If a security interest is perfected when the collateral becomes an accession, the security interest remains perfected in the collateral. (c) Priority […]
§ 25-9-336 – Commingled goods.
25-9-336. Commingled goods. (a) "Commingled goods." – In this section, "commingled goods" means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass. (b) No security interest in commingled goods as such. – A security interest does not exist in commingled goods as […]
§ 25-9-337 – Priority of security interests in goods covered by certificate of title.
25-9-337. Priority of security interests in goods covered by certificate of title. If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this State issues a certificate of title that does not show that the goods are subject to the security interest or contain a statement that […]
§ 25-9-338 – Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.
25-9-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information. If a security interest or agricultural lien is perfected by a filed financing statement providing information described in G.S. 25-9-516(b)(5) which is incorrect at the time the financing statement is filed: (1) The security interest or agricultural lien […]
§ 25-9-339 – Priority subject to subordination.
25-9-339. Priority subject to subordination. This Article does not preclude subordination by agreement by a person entitled to priority. (1965, c. 700, s. 1; 1975, c. 862, s. 7; 2000-169, s. 1.)