Sec. 21a-403. Negotiation, transfer, sale or assignment. Assignee's rights and liabilities.
Sec. 21a-403. Negotiation, transfer, sale or assignment. Assignee's rights and
liabilities. (a) A seller shall not negotiate, transfer, sell or assign any note or other
evidence of indebtedness issued in connection with a home food service plan sale to a
finance company or other third party prior to midnight of the fifth business day after
the day on which the buyer executed the written agreement or after the day on which
the seller provides the buyer with a fully executed copy of the written agreement, whichever is later.
(b) The assignee of any such note or other evidence of indebtedness shall be subject
to all claims and defenses of the buyer against the seller arising from the sale, notwithstanding any agreement to the contrary. The assignee's liability under this subsection
shall not exceed the amount owing to the assignee at the time the claim or defense is
asserted against the assignee. Rights of the buyer under this subsection can be asserted
affirmatively against or as a defense to or set-off against a claim by the assignee.
(P.A. 92-42, S. 4.)