| Transfer of Money - Transfer of Funds From Deposit Account - Ucc 9-332.

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Effective: July 1, 2001

Latest Legislation: Senate Bill 74 - 124th General Assembly

(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.


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