Section 9-332 - Transfer of Money; Transfer of Funds From Deposit Account

MA Gen L ch 9 § 9-332 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Section 9-332. (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.