400.9-401. Alienability of debtor's rights. — (a) Except as otherwise provided in subsection (b) and sections 400.9-406, 400.9-407, 400.9-408 and 400.9-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this article.
(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.
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(L. 1963 p. 503 § 9-401, A.L. 1965 p. 595, A.L. 1988 S.B. 583, A.L. 2001 S.B. 288)
Effective 7-01-01
(1974) Where state of Missouri had knowledge of a security agreement filed with county recorder but erroneously not filed with secretary of state, that knowledge was sufficient to bar state from asserting a sales tax lien on goods covered by the security agreement. State v. Kerr (Mo.), 509 S.W.2d 61.
---- end of effective 01 Jul 2001 ----
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