(810 ILCS 5/9-401)
(from Ch. 26, par. 9-401)
Alienability of debtor's rights.
(a) Other law governs alienability; exceptions. Except as
otherwise provided in subsection (b) and Sections 9-406, 9-407, 9-408, and
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
collateral or makes the transfer a default does not prevent the transfer from
(Source: P.A. 90-300, eff. 1-1-98; 91-893, eff. 7-1-01.)