(a) Except as otherwise provided in subsection (b) and Sections 36-9-406, 36-9-407, 36-9-408, and 36-9-409, 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.
HISTORY: 1962 Code Section 10.9-401; 1966 (54) 2716; 1988 Act No. 494, Section 5; 1997 Act No. 34, Section 1; 2001 Act No. 67, Section 12.
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