Section 18. A sales finance company may purchase a retail instalment contract from a seller on such terms and conditions and for such price as may be mutually agreed upon; and no filing of the assignment, no notice to the buyer of the assignment, and no requirement that the seller be deprived of dominion over payments upon the contract or over the vehicle if repossessed by the seller, shall be necessary to the validity of a written assignment of a retail instalment contract as against creditors, subsequent purchasers, pledgees, mortgagees or encumbrancers of the seller.
Unless the buyer has notice of actual or intended assignment of a retail instalment contract, payment thereunder made by the buyer to the last known holder of such contract shall be binding upon all subsequent holders or assignees.
Structure Massachusetts General Laws
Part III - Courts, Judicial Officers and Proceedings in Civil Cases
Title IV - Certain Writs and Proceedings in Special Cases
Chapter 255b - Retail Instalment Sales of Motor Vehicles
Section 2 - Licenses; Application; Fees; Assignment or Transfer; Multi-State Licensing System
Section 4 - Summoning of Licensees; Failure to Appear; Effect
Section 5 - Refusal to Issue License; Notice; Appeal; Hearing
Section 6 - Violations of This Chapter; Investigations by Commissioner
Section 7 - Revocation or Suspension of License; Grounds
Section 8 - Revocation or Suspension of License; Procedure
Section 9 - Contracts; Form and Contents
Section 11 - Delinquency and Collection Charge; Amount
Section 12 - Signing of Contract; Effect of Blank Spaces; Exceptions; Buyer's Written Acknowledgment
Section 14 - Finance Charges; Rate; Computation
Section 15 - Full Payment by Buyer; Duty of Holder of Retail Instalment Contract
Section 16 - Payment in Full Before Maturity; Refund Credit
Section 17 - Deferment or Renewal of Payment Dates; Refinancing; Computation of Rates; Rebates
Section 18 - Sale or Assignment of Contracts
Section 19 - Statement of Payments; Forwarding to Buyer; Receipts for Payments
Section 19a - Holder of Retail Installment Contract Subject to Buyer's Defenses Against Seller
Section 20 - Non-Enforceability of Certain Provision of Contract
Section 20a - Default; Enforcement; Notice; Accelerated Payment; Curing of Default
Section 20c - Repossession of Motor Vehicle; Notice to Police
Section 22 - Violation of Secs. 9 to 14 or Secs. 18 to 20; Effect
Section 23 - Waiver of Provisions of This Chapter; Effect