Current through Public Act 156 of the 2024 Legislative Session
Section 440.9401 - Alienability of debtor's rights(1) Except as otherwise provided in subsection (2) and sections 9406, 9407, 9408, and 9409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this article.(2) An agreement between the debtor and secured party that prohibits a transfer of the debtor's rights in collateral or makes the transfer a default does not prevent the transfer from taking effect.1962, Act 174, Eff. 1/1/1964 ;--Am. 1964, Act 250, Eff. 8/28/1964 ;--Am. 1976, Act 27, Imd. Eff. 3/4/1976 ;--Am. 1978, Act 369, Eff. 1/1/1979 ;--Am. 1980, Act 53, Imd. Eff. 3/27/1980 ;--Am. 1990, Act 288, Imd. Eff. 12/14/1990 ;--Am. 2000, Act 348, Eff. 7/1/2001.