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Me. Rev. Stat. tit. 11, § 9-1332-2

Transfer of money; transfer of funds from deposit account

Known as the Uniform Commercial Code

The act spans §§ 2-101 to 9-1709 (548 sections).

PL 1999, c. 699, §A2 (NEW)

(1). 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.

(2). 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: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.