Arizona Laws 47-9401. Alienability of debtor’s rights
A. Except as otherwise provided in subsection B of this section and sections 47-9406, 47-9407, 47-9408 and 47-9409, whether a debtor‘s rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this chapter.
Terms Used In Arizona Laws 47-9401
- Collateral: means the property subject to a security interest or agricultural lien. See Arizona Laws 47-9102
- Debtor: means :
(a) A person having an interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor;
(b) A seller of accounts, chattel paper, payment intangibles or promissory notes; or
(c) A consignee. See Arizona Laws 47-9102
- Secured party: means :
(a) A person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding;
(b) A person that holds an agricultural lien;
(c) A consignor;
(d) A person to which accounts, chattel paper, payment intangibles or promissory notes have been sold;
(e) A trustee, indenture trustee, agent, collateral agent or other representative in whose favor a security interest or agricultural lien is created or provided for; or
(f) A person that holds a security interest arising under section 47-2401, 47-2505, 47-2711, 47-2A508, 47-4210 or 47-5118. See Arizona Laws 47-9102
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.