8.9A-401 - A-401. Alienability of debtor's rights. - Virginia Statutes

§ 8.9A-401. Alienability of debtor's rights.

(a) Other law governs alienability; exceptions. Except as otherwise providedin subsection (b) and §§ 8.9A-406 through 8.9A-409, whether a debtor's rightsin collateral may be voluntarily or involuntarily transferred is governed bylaw other than this title.

(b) Agreement does not prevent transfer. An agreement between the debtor andsecured party which prohibits a transfer of the debtor's rights in collateralor makes the transfer a default does not prevent the transfer from takingeffect.

(1964, c. 219, § 8.9-311; 2000, c. 1007.)