Current through the 2024 Legislative Session
Section 57A-9-332 - Transferee of money or funds from deposit account(a) A transferee of tangible 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.(c) A transferee of electronic money takes the money free of a security interest if the transferee obtains control of the money without acting in collusion with the debtor in violating the rights of the secured party. SL 2000, ch 231; SL 2024, ch 198, §72.Amended by S.L. 2024, ch. 198,s. 72, eff. 7/1/2024.