N.J.S.A. 12A:9-332

Transfer of money; transfer of funds from deposit account.

12A:9-332 Transfer of money; transfer of funds from deposit account. 12A: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. L.2001, c.117, s.1; amended 2001, c.386, s.48.

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This is the verbatim text of N.J.S.A. 12A:9-332, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. KyzerLex is not a law firm and this page is not legal advice.