Arizona Laws 44-6004. Assignment or transfers
A. The provisions of this section shall apply notwithstanding any law to the contrary.
Terms Used In Arizona Laws 44-6004
- buyer: means a person who buys goods or services from a retail seller. See Arizona Laws 44-6001
- Contract: A legal written agreement that becomes binding when signed.
- Goods: means all tangible chattels, except motor vehicles, money, things in action or intangible personal property other than merchandise certificates or coupons as described in this chapter. See Arizona Laws 44-6001
- Holder: means :
(a) The retail seller of goods or services under a retail installment contract or retail charge account agreement. See Arizona Laws 44-6001
- Lien: A claim against real or personal property in satisfaction of a debt.
- Retail charge account agreement: means an arrangement prescribing the terms of retail installment transactions which may be made from time to time in which a retail buyer purchases goods or services and in which a finance charge or delinquency charge may be computed in relation to the buyer's balance in the account. See Arizona Laws 44-6001
- Retail installment contract: means an arrangement for a retail installment transaction except a retail charge account agreement or memorandum reflecting a sale made pursuant to such agreement. See Arizona Laws 44-6001
- seller: means a person regularly and principally engaged in the business of selling goods or services to retail buyers. See Arizona Laws 44-6001
B. An assignee may purchase or acquire any retail installment contract or retail charge account agreement or any outstanding balance under either from a seller or holder on terms, conditions and price as may be mutually agreed upon.
C. Notice to the buyer of the assignment and any requirement that the transferor be deprived of dominion over payments upon a retail installment contract or retail charge account agreement or over the goods if returned to or repossessed by the seller or holder, is not necessary to the validity of a written assignment of the retail installment contract or retail charge account agreement or any outstanding balance under either as against creditors, subsequent purchasers, pledgees, mortgagees or lien claimants of the transferor.
D. Unless the buyer has notice of the assignment of his retail installment contract, retail charge account agreement or any outstanding balance under either, payment made by the buyer to the holder last known to him is binding upon all subsequent holders.
E. A holder may acquire from a retail seller or another holder invoices or other memoranda evidencing retail sales on such terms, conditions and price, discount or other charge as may be mutually agreed upon. Such price, discount or other charge is not a part of the time price differential or delinquency charge permitted.