§12A-1-9-332. Transfer of money; transfer of funds from deposit
112 words·~1 min read·
/ok/title-12a-uniform-commercial-code/12a-1-9-332·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
account. TRANSFER OF MONEY; TRANSFER OF FUNDS FROM DEPOSIT ACCOUNT
(a)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.
(b)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. Added by Laws 2000, c. 371, § 59, eff. July 1, 2001. Amended by Laws 2024, c. 13, § 70, eff. Nov. 1, 2024.