§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 if the transferee receives possession of the money without acting 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 if the transferee receives the funds without acting in collusion with the debtor in violating the rights of the secured party.

            Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2024, No. 773, §1.