Legislation

* Section 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 unless the transferee acts 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 unless the transferee acts in collusion with the
debtor in violating the rights of the secured party.

* NB Effective until June 3, 2026
* Section 9--332. Transfer of Money; Transfer of Funds from Deposit

Account.
(a) Transferee of tangible money. 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) 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.

(c) Transferee of electronic money. 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.

* NB Effective June 3, 2026