(a) Other law governs alienability; exceptions. Except as otherwise provided in subsection (b) and §§ 8.9A-406 through 8.9A-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this title.
(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.
1964, c. 219, § 8.9-311; 2000, c. 1007.
Structure Code of Virginia
Title 8.9A - Commercial Code - Secured Transactions
§ 8.9A-401. Alienability of debtor's rights
§ 8.9A-402. Secured party not obligated on contract of debtor or in tort
§ 8.9A-403. Agreement not to assert defenses against assignee
§ 8.9A-404. Rights acquired by assignee; claims and defenses against assignee
§ 8.9A-405. Modification of assigned contract
§ 8.9A-409. Restrictions on assignment of letter-of-credit rights ineffective