North Dakota § 41-09-38 - (9-318) No interest retained in right to payment that is sold - Rights and title
Full text of North Dakota North Dakota Century Code § 41-09-38 — (9-318) No interest retained in right to payment that is sold - Rights and title, with citation guidance and answers to common questions.
§ 41-09-38. (9-318) 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. 1. A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold. 2. 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 North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 41-09-38
What does North Dakota Century Code § 41-09-38 cover?
Section 41-09-38 ("(9-318) No interest retained in right to payment that is sold - Rights and title") is part of the North Dakota Century Code, the codified statutory law of North Dakota. 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 North Dakota § 41-09-38?
A common citation format is "North Dakota Century Code § 41-09-38" (North Dakota). 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 North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 41-09-38 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota 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 North Dakota.