Section 4-9-401 - Alienability of debtor's rights

(a) Except as otherwise provided in subsection (b) and §§ 4-9-406 - 4-9-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this chapter.(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.Acts 2001, No. 1439, § 1.