N.Y. UCC Law § 9-332
This is the official text of N.Y. UCC Law § 9-332, part of New York’s UCC Law — part of the compiled statutory law of New York, published by the state as "UCC Law." Browse the sections below, each linked to its official government source.
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Transfer of Money; Transfer of Funds from Deposit Account
Official statutory text
Section 9--332. Transfer of Money; Transfer of Funds from Deposit\n Account.\n (a) Transferee of tangible money. A transferee of tangible money takes\nthe money free of a security interest if the transferee receives\npossession of the money without acting in collusion with the debtor in\nviolating the rights of the secured party.\n (b) Transferee of funds from deposit account. A transferee of funds\nfrom a deposit account takes the funds free of a security interest in\nthe deposit account if the transferee receives the funds without acting\nin collusion with the debtor in violating the rights of the secured\nparty.\n (c) Transferee of electronic money. A transferee of electronic money\ntakes the money free of a security interest if the transferee obtains\ncontrol of the money without acting in collusion with the debtor in\nviolating the rights of the secured party.\n
Status: in_force · Read it on the official government site
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