Michigan § 440.9318 - No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.
Full text of Michigan Michigan Compiled Laws § 440.9318 — No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers., with citation guidance and answers to common questions.
§ 440.9318. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.
A debtor that has sold an account, chattel paper, payment intangibles, or promissory note does not retain a legal or equitable interest in the collateral sold.
For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer's security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 440.9318
What does Michigan Compiled Laws § 440.9318 cover?
Section 440.9318 ("No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 440.9318?
A common citation format is "Michigan Compiled Laws § 440.9318" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 440.9318 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.