Maker AndCo-Makers To Be Notified If Note Is Transferred

Maker AndCo-Makers To Be Notified If Note Is Transferred If the company or any affiliate thereof, except the agent, be the payee, and there is a transfer of the note, the company must notify the note-maker and all co-makers regarding such transfer after it occurs, inviting any questions relative to the note, or the policy which is used as collateral security for the note. Such notice may be given by the purchaser, transferee, or assignee of the note. If the agent or a party other than the company or any affiliate thereof, be the payee, the agent must bear the duty of notice as in this section provided and must furnish the company with a copy of said notice.