Pennsylvania § 9318 - No interest retained in right to payment which is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 9318 — No interest retained in right to payment which 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.
§ 9318. No interest retained in right to payment which is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.
(a) Seller retains no interest.--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.
(b) Deemed rights of debtor if buyer's security interest unperfected.--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 Pennsylvania text · Last verified 2026-08-27
Frequently Asked Questions About Pennsylvania § 9318
What does Pennsylvania Consolidated Statutes § 9318 cover?
Section 9318 ("No interest retained in right to payment which is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. 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 Pennsylvania § 9318?
A common citation format is "Pennsylvania Consolidated Statutes § 9318" (Pennsylvania). 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 Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 9318 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania 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 Pennsylvania.