"Take Free"; "Takes Free"; "Takes the Money Free"; "Takes the Funds Free"

Checkout our iOS App for a better way to browser and research.

Sec. 102.5. As used in this chapter, "take free", "takes free", "takes the money free", and "takes the funds free", when used in conjunction with a security interest in collateral which is transferred, means that following the transfer the collateral is no longer encumbered by the security interest and the security interest is terminated with respect to the transferred collateral.

As added by P.L.192-2003, SEC.1.


Download our app to see the most-to-date content.