N.Y. 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.

Source: Section 9-332 — Transfer of Money; Transfer of Funds from Deposit Account, https://www.­nysenate.­gov/legislation/laws/UCC/9-332 (updated Sep. 22, 2014; accessed May 11, 2024).

Accessed:
May 11, 2024

Last modified:
Sep. 22, 2014

§ 9-332’s source at nysenate​.gov

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