Michigan Compiled Laws § 440.9332 Transfer Of Money; Transfer Of Funds From Deposit Account.

440.9332 Transfer of money; transfer of funds from deposit account.

Sec. 9332.

(1) 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.

(2) 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.

History: Add. 2000, Act 348, Eff. July 1, 2001

Section: Previous  440.9325  440.9326  440.9327  440.9328  440.9329  440.9330  440.9331  440.9332  440.9333  440.9334  440.9335  440.9336  440.9337  440.9338  440.9339  Next

Last modified: October 10, 2016