Section 1309.332 | Transfer of money - transfer of funds from deposit account - UCC 9-332.
Transfer of money; transfer of funds from deposit account [UCC 9-332]
(A) 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) 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) 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.
Last updated July 20, 2026 at 3:44 PM
Available Versions of this Section
- July 1, 2001 – Senate Bill 74 - 124th General Assembly [ View July 1, 2001 Version ]
- October 6, 2026 – Amended by House Bill 195 - 136th General Assembly [ View October 6, 2026 Version ]