§ 355-9-332

355.9 -332 Transfer of money -- Transfer of funds from deposit account. (1) A transferee of tangible 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. (3) A transferee of electronic money takes the money free of a security interest if the transferee obtains control of the money without acting in collusion with the debtor in violating the rights of the secured party. Effective: January 1, 2025 History: Amended 2024 Ky. Acts ch. 10, sec. 73, effective January 1, 2025. -- Created 2000 Ky. Acts ch. 408, sec. 72, effective July 1, 2001.