1. (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.
2. (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. "Agreement" Section 36-1-201(3) "Collateral" Section 36-9-102(a)(12) "Debtor" Section 36-9-102(a)(28) "Default" See Section 36-9-601, Official Comment 2 "Rights in collateral" See Section 36-9-203, Official Comment 6 "Secured party" Section 36-9-102(a)(72)