Sec. 9.401. ALIENABILITY OF DEBTOR'S RIGHTS. (a) 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 chapter.
(b) 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.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 9 - Secured Transactions
Subchapter D. Rights of Third Parties
Section 9.401. Alienability of Debtor's Rights
Section 9.402. Secured Party Not Obligated on Contract of Debtor or in Tort
Section 9.403. Agreement Not to Assert Defenses Against Assignee
Section 9.404. Rights Acquired by Assignee; Claims and Defenses Against Assignee
Section 9.405. Modification of Assigned Contract
Section 9.409. Restrictions on Assignment of Letter-of-Credit Rights Ineffective