554.9311  Alienability of debtor's rights:  judicial process.

The debtor's rights in collateral may be voluntarily or involuntarily transferred (by way of sale, creation of a security interest, attachment, levy, garnishment or other judicial process) notwithstanding a provision in the security agreement prohibiting any transfer or making the transfer constitute a default.

Section History: Early form

  [C24, 27, 31, 35, 39, § 9968; C46, 50, 54, 58, 62, § 554.40; C66, 71, 73, 75, 77, 79, 81, § 554.9311]

Internal References

  Referred to in § 15E.91, 16.26, 16A.9


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