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PARRIS N. GLENDENING, Governor
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Ch. 477
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(d) Except as otherwise provided in subsection (e) and §§ 2A-303 of this article
and 9-407, and subject to subsection (h), a term in an agreement between an account
debtor and an assignor or in a promissory note is ineffective to the extent that it:
(1) Prohibits, restricts, or requires the consent of the account debtor or
person obligated on the promissory note to the assignment or transfer of, or the
creation, attachment, perfection, or enforcement of a security interest in, the account,
chattel paper, payment intangible, or promissory note; or
(2) Provides that the assignment or transfer or the creation, attachment,
perfection, or enforcement of the security interest may give rise to a default, breach,
right of recoupment, claim, defense, termination, right of termination, or remedy
under the account, chattel paper, payment intangible, or promissory note.
(e) Subsection (d) does not apply to the sale of a payment intangible or
promissory note.
(0 Except as otherwise provided in §§ 2A-303 of this article and 9-407, and
subject to subsections (h) and (i) of this section, a rule of law, statute, or regulation
that prohibits, restricts, or requires the consent of a government, governmental body
or official, or account debtor to the assignment or transfer of, or creation of a security
interest in, an account or chattel paper is ineffective to the extent that the rule of law,
statute, or regulation:
(1) Prohibits, restricts, or requires the consent of the government,
governmental body or official, or account debtor to the assignment or transfer of, or
the creation of a security interest in, the account or chattel paper; or
(2) Provides that the assignment or transfer or the creation, attachment,
perfection, or enforcement of a security interest may give rise to a default, breach,
right of recoupment, claim, defense, termination, right of termination, or remedy
under the account or chattel paper.
(g) Subject to subsection (h), an account debtor may not waive or vary its
option under subsection (b)(3),
(h) This section is subject to law other than this title which establishes a
different rule for an account debtor who is an individual and who incurred the
obligation primarily for personal, family, or household purposes.
(i) This section does not apply to an assignment of a health-care-insurance
receivable.
(j) (1) [This section prevails over any inconsistent statute of this State.]
EXCEPT AS PROVIDED IN PARAGRAPH (2), THIS SECTION PREVAILS OVER ANY
INCONSISTENT STATUTE OF THIS STATE, UNLESS THE PROVISION IS CONTAINED IN
A STATUTE OF THIS STATE, REFERS EXPRESSLY TO THIS SECTION, AND STATES THAT
THE PROVISION PREVAILS OVER THIS SECTION.
(2) SUBSECTIONS (D) AND (F) DO NOT APPLY TO:
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- 3805 -
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