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California Commercial Code

§ 12106

COM § 12106 Effective Jan 1, 2024Div. 12

Statute text

View on leginfo.ca.gov
(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.
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Legislative history

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

Source: California Commercial Code § 12106 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.