(a) Other law governs alienability; exceptions.--Except as otherwise provided in subsections (b) and (c), whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this division.
(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.
(c) Exceptions.--Subsection (a) is also subject to the following:
(1) section 9406 (relating to discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles and promissory notes ineffective);
(2) section 9407 (relating to restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest);
(3) section 9408 (relating to restrictions on assignment of promissory notes, health-care-insurance receivables and certain general intangibles ineffective); and
(4) section 9409 (relating to restrictions on assignment of letter-of-credit rights ineffective).
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 94 - Rights of Third Parties
Section 9401 - Alienability of debtor's rights
Section 9402 - Secured party not obligated on contract of debtor or in tort
Section 9403 - Agreement not to assert defenses against assignee
Section 9404 - Rights acquired by assignee; claims and defenses against assignee
Section 9405 - Modification of assigned contract
Section 9409 - Restrictions on assignment of letter-of-credit rights ineffective