§9-1332. Transfer of money; transfer of funds from deposit account
110 words·~1 min read·
/me/title-11-uniform-commercial-code/9-1332A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1). A transferee of money takes the money free of a security interest if the transferee receives possession of the money without acting in collusion with the debtor in violating the rights of the secured party.
[PL 2023, c. 669, Pt. A, §129 (AMD); PL 2023, c. 669, Pt. E, §1 (AFF).]
(2). A transferee of funds from a deposit account takes the funds free of a security interest in the deposit account if the transferee receives the funds without acting in collusion with the debtor in violating the rights of the secured party.
[PL 2023, c. 669, Pt. A, §129 (AMD); PL 2023, c. 669, Pt. E, §1 (AFF).]