(a) Other law governs alienability; exceptions. Except as otherwise
provided in subsection (b) and Sections 9--406, 9--407, 9--408, and
9--409, whether a debtor's rights in collateral may be voluntarily or
involuntarily transferred is governed by law other than this article.
(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.
Structure New York Laws
Article 9 - Secured Transactions
Part 4 - Rights of Third Parties
9-401 - Alienability of Debtor's Rights
9-402 - Secured Party Not Obligated on Contract of Debtor or in Tort
9-403 - Agreement Not to Assert Defenses Against Assignee
9-404 - Rights Acquired by Assignee; Claims and Defenses Against Assignee
9-405 - Modification of Assigned Contract
9-409 - Restrictions on Assignment of Letter-of-Credit Rights Ineffective