57A-9-401. Transferability of debtor's rights.

(a) Except as otherwise provided in subsection (b) and §§ 57A-9-406, 57A-9-407, 57A-9-408, and 57A-9-409, 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.

Source: SL 2000, ch 231.