Transfer of money - transfer of funds from deposit account - UCC 9-332
Known as the Uniform Commercial Code
The act spans §§ 1309–1309 (136 sections).
Effective: July 1, 2001; Latest Legislation: Senate Bill 74 - 124th General Assembly
(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.
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.