Alienability of debtor's rights

(a) Except as otherwise provided in Subsection (b) of this section and Sections 55-9- 406 through 55-9-409 NMSA 1978, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than Chapter 55, Article 9 NMSA 1978. (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. History: 1978 Comp., § 55-9-401, enacted by Laws 2001, ch. 139, § 63.