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N.J. Stat. Ann. § 12A:9-401

Alienability of debtor's rights

Known as the Uniform Commercial Code

The act spans §§ 12A:1-101 to 12A:9-809 (506 sections).

L.2001, c.117, s.1; amended 2001, c.386, s.58.

Alienability of Debtor's Rights.

(a) Other law governs alienability; exceptions. Except as otherwise provided in subsection (b) and 12A:9-406, 12A:9-407, 12A:9-408 and 12A:9-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this chapter.

(b) Agreement does not prevent transfer. 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.

Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.