Section 446. Restriction on assignment of obligation

1. A seller shall not
  negotiate, transfer, sell or  assign  any  note  or  other  evidence  of
  indebtedness to a finance company or other third party prior to midnight
  of  the  fifth  business  day  following the day the seller sent written
  notice to the buyer informing the buyer of his right to cancel.  2.  The
  assignee of any note or 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, but  the  assignee's
  liability  under  this  subdivision 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  section  can be asserted
  affirmatively against a claim by the assignee.