AS 45.29.401

Alienability of debtor's rights

Known as the Uniform Commercial Code

The act spans §§ 45–45 (615 sections).

(a) Except as otherwise provided in (b) of this section and AS 45.29.406 — 45.29.409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this chapter.

(b) An agreement between the debtor and secured party that prohibits a transfer of the debtor's rights in collateral or makes the transfer a default does not prevent the transfer from taking effect.

Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.