DecisionDepot
California legal research

Texas Business & Commerce Code

§ 9.332 — TRANSFER OF MONEY; TRANSFER OF FUNDS FROM DEPOSIT ACCOUNT

BC § 9.332Title 1. UNIFORM COMMERCIAL CODE · Ch. 9. SECURED TRANSACTIONS · Art. C. PERFECTION AND PRIORITY

Statute text

View on source
(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.

Legislative history

Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.

Source: Texas Business & Commerce Code § 9.332 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.