As Amended
SEC. 75-9-401. Alienability of debtor's rights [Effective January 1, 2002].
(a) Except as otherwise provided in subsection (b) and Sections 75-9-406, 75-9-407, 75-9-408 and 75-9-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this article.
(b) 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.
SOURCES: Former 1972 Code § 75-9-401 [Codes, 1942, § 41A:9-401; Laws, 1966, ch. 316, § 9-401; Laws, 1968, ch. 489, § 1; Laws, 1977, ch. 452, § 24; Laws, 1982, ch. 439; Laws, 1984, ch. 454, § 1; Laws, 1995, ch. 329, § 1, eff from and after July 1, 1995] is now found in comparable provisions enacted at § 75-9-501 by Laws, 2001, ch. 495, § 1. Present § 75-9-401 was derived from former 1972 Code § 75-9-311 [Codes, 1942, § 41A:9-311; Laws, 1966, ch. 316, § 9-311, eff March 31, 1968] and was enacted by Laws, 2001, ch. 495, § 1, HB 1311, eff from and after January 1, 2002.
PREVIOUS VERSIONS: Pre-2001