New York Uniform Commercial Code Law Section 9-332 - Transfer of Money; Transfer of Funds from Deposit Account

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.

Last modified: February 3, 2019