- (a) 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) 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.
HISTORY: 2001 Act No. 67, Section 12. "Debtor" Section 36-9-102(a)(28) "Deposit Account" Section 36-9-102(a)(29) "Money" Section 36-1-201(24) "Secured party" Section 36-9-102(a)(72) "Security interest" Section 36-1-201(37) [see now Section 36-1-203]