§12A-1-9-401. Alienability of debtor’s rights.
90 words·~1 min read·
/ok/title-12a-uniform-commercial-code/12a-1-9-401·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
ALIENABILITY OF DEBTOR’S RIGHTS
(a)Except as otherwise provided in subsection
(b)of this section and Sections 1-9-406, 1-9-407, 1-9-408, and 1-9-409 of this title, whether a debtor’s rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this article.
(b)An agreement between the debtor and secured party which prohibits a transfer of the debtor’s rights in collateral or makes the transfer a default does not prevent the transfer from taking effect. Added by Laws 2000, c. 371, § 70, eff. July 1, 2001.