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Ind. Code § 26-1-9.1-332

Transferee of money or of funds from a deposit account

Known as the Uniform Commercial Code

The act spans §§ 26-1-1-0.2 to 26-1-9.1-902 (630 sections).

As added by P.L.57-2000, SEC.45

Sec. 332. (a) A transferee of 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.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.