§ 12A-1-9-332. Transfer of money; transfer of funds from deposit account.  


Latest version.
  • TRANSFER OF MONEY; TRANSFER OF FUNDS FROM DEPOSIT ACCOUNT

    (a)  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)  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.

Added by Laws 2000, c. 371, § 59, eff. July 1, 2001.