2009 California Civil Code - Section 953-955.1 :: Article 1. Transfer Of Things In Action

CIVIL CODE
SECTION 953-955.1

[953.]  Section Nine Hundred and Fifty-three. A thing in action is a
right to recover money or other personal property by a judicial
proceeding.

954.  A thing in action, arising out of the violation of a right of
property, or out of an obligation, may be transferred by the owner.

954.5.  (a) Subject to subdivisions (b) and (c), a transfer of a
right represented by a judgment excluded from coverage of Division 9
of the Commercial Code by paragraph (9) of subdivision (d) of Section
9109 of the Commercial Code shall be deemed perfected as against
third persons upon there being executed and delivered to the
transferee an assignment thereof in writing.
   (b) As between bona fide assignees of the same right for value
without notice, the assignee who first becomes an assignee of record,
by filing an acknowledgment of assignment of judgment with the court
as provided in Section 673 of the Code of Civil Procedure or
otherwise becoming an assignee of record, has priority.
   (c) The filing of an acknowledgment of assignment of the judgment
with the court under Section 673 of the Code of Civil Procedure is
not, of itself, notice to the judgment debtor so as to invalidate any
payments made by the judgment debtor that would otherwise be applied
to the satisfaction of the judgment.

955.  A transfer other than one intended to create a security
interest (paragraph (1) or (3) of subdivision (a) of Section 9109 of
the Commercial Code) of a nonnegotiable instrument which is otherwise
negotiable within Division 3 of the Commercial Code but which is not
payable to order or to bearer and a sale of accounts, chattel paper,
payment intangibles, or promissory notes as part of a sale of the
business out of which they arose (paragraph (4) of subdivision (d) of
Section 9109 of the Commercial Code) shall be deemed perfected
against third persons when such property rights have been endorsed or
assigned in writing and in the case of such instruments or chattel
paper delivered to the transferee, whether or not notice of such
transfer or sale has been given to the obligor; but such endorsement,
assignment, or delivery is not, of itself, notice to the obligor so
as to invalidate any payments made by the obligor to the transferor.

955.1.  (a) Except as provided in Sections 954.5 and 955 and subject
to subdivisions (b) and (c), a transfer other than one intended to
create a security interest (paragraph (1) or (3) of subdivision (a)
of Section 9109 of the Commercial Code) of any payment intangible
(Section 9102 of the Commercial Code) and any transfer of accounts,
chattel paper, payment intangibles, or promissory notes excluded from
the coverage of Division 9 of the Commercial Code by paragraph (4)
of subdivision (d) of Section 9109 of the Commercial Code shall be
deemed perfected as against third persons upon there being executed
and delivered to the transferee an assignment thereof in writing.
   (b) As between bona fide assignees of the same right for value
without notice, the assignee first giving notice thereof to the
obligor in writing has priority.
   (c) The assignment is not, of itself, notice to the obligor so as
to invalidate any payments made by the obligor to the transferor.
   (d) This section does not apply to transfers or assignments of
transition property, as defined in Section 840 of the Public
Utilities Code, or to transfers or assignments of recovery property,
as defined in Section 848 of the Public Utilities Code.


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