HRS §490:9-209
Releasing a customer after a debt is paid off
This section tells a secured party what to do when a debtor has paid off their debt and the secured party is not committed to lend more. The secured party must send a signed release to the customer who was notified of the assignment, within ten days of the debtor's written demand. This does not apply if the assignment was a sale of the account.
debtors
The statute, as written — Duties of secured party if account debtor has been notified of assignment
(a) Except as otherwise provided in subsection (c), this section applies if: (1) There is no outstanding secured obligation; and (2) The secured party is not committed to make advances, incur obligations, or otherwise give value. (b) Within ten days after receiving a signed demand by the debtor, a secured party shall send to an account debtor that has received notification under section 490:9-406(a) or 490:12-106(b) of an assignment to the secured party as assignee a signed record that releases the account debtor from any further obligation to the secured party. (c) This section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible.
Sections this one refers to
§490:9-406 When a debt is assigned to someone else
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