(a. Except as otherwise provided in subsection (b) and §§ 8.9A-406 through 8.9A-409, whether a debtor’s rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this title.

(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.

History

1964, c. 219, § 8.9-311; 2000, c. 1007.