When by the terms of an instrument its assignment is prohibited, an assignment thereof shall nevertheless be valid, but the maker may make use of any defense or counterclaim against the assignee which the maker may have against any assignor thereof before notice of such assignment is given to the maker in writing. In case of conflict between this section and sections 554.5116 and 554.9318, sections 554.5116 and 554.9318 control.
[C51, § 951; R60, § 1798; C73, § 2086; C97, § 3046; C24, 27, 31, 35, 39, § 9452; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 539.2]
94 Acts, ch 1167, §5
Referred to in § 539.3
Related provision, R.C.P. 7
1994 amendments take effect July 1, 1995; 94 Acts, ch 1167, §122; for law prior to July 1, 1995, see Code 1993
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