N.Y. U.C.C. 9-332

Section 9--332. Transfer of Money; Transfer of Funds from Deposit\n Account.\n (a) Transferee of tangible money. A transferee of tangible money takes\nthe money free of a security interest if the transferee receives\npossession of the money without acting in collusion with the debtor in\nviolating the rights of the secured party.\n (b) Transferee of funds from deposit account. A transferee of funds\nfrom a deposit account takes the funds free of a security interest in\nthe deposit account if the transferee receives the funds without acting\nin collusion with the debtor in violating the rights of the secured\nparty.\n (c) Transferee of electronic money. A transferee of electronic money\ntakes the money free of a security interest if the transferee obtains\ncontrol of the money without acting in collusion with the debtor in\nviolating the rights of the secured party.\n