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California Commercial Code

§ 9332

COM § 9332 Effective Jan 1, 2024Div. 9 · Ch. 3

Statute text

View on leginfo.ca.gov
(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.

Legislative history

Amended by Stats. 2023, Ch. 210, Sec. 53. (SB 95) Effective January 1, 2024.

Source: California Commercial Code § 9332 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.