Legislation
SECTION 9-332
Transfer of Money; Transfer of Funds from Deposit Account
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 9, PART 3, SUBPART 3
Section 9--332. Transfer of Money; Transfer of Funds from Deposit
Account.
(a) Transferee of money. A transferee of money takes the money free of
a security interest unless the transferee acts in collusion with the
debtor in violating the rights of the secured party.
(b) Transferee of funds from deposit account. A transferee of funds
from a deposit account takes the funds free of a security interest in
the deposit account unless the transferee acts in collusion with the
debtor in violating the rights of the secured party.
Account.
(a) Transferee of money. A transferee of money takes the money free of
a security interest unless the transferee acts in collusion with the
debtor in violating the rights of the secured party.
(b) Transferee of funds from deposit account. A transferee of funds
from a deposit account takes the funds free of a security interest in
the deposit account unless the transferee acts in collusion with the
debtor in violating the rights of the secured party.