- 1. Other law governs alienability — exceptions. Except as otherwise provided in subsection 2 and sections 554.9406, 554.9407, 554.9408, and 554.9409, whether a debtor’s rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this Article.
- 2. Agreement does not prevent transfer. 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.
2000 Acts, ch 1149, §63, 185, 187