| 5. Scope; Application to "Account Debtor." This section |
deals only with the rights and duties of "account debtors"-and |
for the most part only with account debtors on accounts, chattel |
paper, and payment intangibles. Subsection (e) [Maine cite |
subsection (5)] provides that the obligation of an insurer with |
respect to a health-care-insurance receivable is governed by |
other law. References in this section to an "account debtor" |
include account debtors on collateral that is proceeds. Neither |
this section nor any other provision of this Article, including |
Sections 9-408 and 9-409 [Maine cite sections 9-1408 and 9-1409], |
provides analogous regulation of the rights and duties of other |
obligors on collateral, such as the maker of a negotiable |
instrument (governed by Article 3), the issuer of or nominated |
person under a letter of credit (governed by Article 5), or the |
issuer of a security (governed by Article 8). Article 9 [Maine |
cite Article 9-A] leaves those rights and duties untouched; |
however, Section 9-409 [Maine cite section 9-1409] deals with the |
special case of letters of credit. When chattel paper is |
composed in part of a negotiable instrument, the obligor on the |
instrument is not an "account debtor," and Article 3 governs the |
rights of the assignee of the chattel paper with respect to the |
issues that this section addresses. See, e.g., Section 3-601 |
(dealing with discharge of an obligation to pay a negotiable |
instrument). |