N.J.S.A. 12A:9-401 — Alienability of debtor's rights.

12A:9-401 Alienability of debtor's rights. 12A:9-401. Alienability of Debtor's Rights. (a) Other law governs alienability; exceptions. Except as otherwise provided in subsection (b) and 12A:9-406, 12A:9-407, 12A:9-408 and 12A:9-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this chapter. (b) 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. L.2001, c.117, s.1; amended 2001, c.386, s.58.

This is the verbatim text of N.J.S.A. 12A:9-401, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.