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New Jersey Statutes, Title: 12A, COMMERCIAL TRANSACTIONS
Chapter 9:
Section: 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.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 12a:9-332 (if available):
Court decisions that cite this statute:
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