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Illinois Compiled Statutes

810 ILCS 5/9-401 (2026)

Alienability of debtor's rights

✓ current as of May 2026
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(810 ILCS 5/9-401) (from Ch. 26, par. 9-401)
    Sec. 9-401. Alienability of debtor's rights.
    (a) Other law governs alienability; exceptions. Except as otherwise provided in subsection (b) and Sections 9-406, 9-407, 9-408, and 9-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this Article.
    (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.
(Source: P.A. 90-300, eff. 1-1-98; 91-893, eff. 7-1-01.)

    
Notes of Decisions
Cited in 3 cases, 1995–2009 · leading case: McRoberts v. S.I.V.I. (In Re Bequette), 184 B.R. 327 (Bankr. S.D. Ill. 1995).
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McRoberts v. S.I.V.I. (In Re Bequette), 184 B.R. 327 (Bankr. S.D. Ill. 1995). “See 810 ILCS 5/9-313; 810 ILCS 5/9-401(b); In re Beabout, 110 B.”
ONE CW, LLC v. Cartridge World North Am., LLC, 661 F. Supp. 2d 931 (N.D. Ill. 2009). “” 810 ILCS 5/9-401(b); Wis. Stat. § 409.401 (2).”
In Re Billingsley, 290 B.R. 345 (Bankr. C.D. Ill. 2002). “There were a number of ways for Niemerg to perfect its security interest in the stock: (1) possession, see 810 ILCS 5/8 — 104(a)(1) and 810 ILCS 5/8-301(a)(l); (2) filing a financing statement, see 810 ILCS 5/9-401 and 810 ILCS 5/9-403; (3) levying against the stock, see 735…”
— 810 ILCS 5/9-401(b) — 2 cases
McRoberts v. S.I.V.I. (In Re Bequette), 184 B.R. 327 (Bankr. S.D. Ill. 1995). “See 810 ILCS 5/9-313; 810 ILCS 5/9-401(b); In re Beabout, 110 B.”
ONE CW, LLC v. Cartridge World North Am., LLC, 661 F. Supp. 2d 931 (N.D. Ill. 2009). “” 810 ILCS 5/9-401(b); Wis. Stat. § 409.401 (2).”
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