Cal. Commercial Code § 9332
Cal. Commercial Code § 9332
California · California Commercial Code · Status: effective · Effective 2024-01-01
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- Citation
- Cal. Commercial Code § 9332, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/790670
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Full text
(a) A transferee of tangible money takes the money free of a security interest if the transferee receives possession of the money without acting 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 if the transferee receives the funds without acting in collusion with the debtor in violating the rights of the secured party.
(c) A transferee of electronic money takes the money free of a security interest if the transferee obtains control of the money without acting in collusion with the debtor in violating the rights of the secured party.