Alabama Statutes
§ 7-9A-332 — Transfer of Money; Transfer of Funds from Deposit Account
Alabama·Title 7 Commercial Code·Art. 9A Secured Transactions·Div. 3 Priority·Part 3 Perfection and Priority
(a)Transferee of money. 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)Transferee of funds from deposit account. A transferee of funds from a deposit account takes the funds free of a security interest in the deposit account if the transferee receives possession of the money without acting in collusion with the debtor in violating the rights of the secured party.
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Alabama § 7-9A-332 (Transfer of Money; Transfer of Funds from Deposit Account) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Act 2001-481, p. 647, §1; Act 2023-492, §1.)
Nearby Sections
15
§ 7-1-101
Short Titles§ 7-1-102
Scope of Article§ 7-1-104
Construction Against Implied Repeal§ 7-1-105
Severability§ 7-1-106
Use of Singular and Plural; Gender§ 7-1-107
Section Captions§ 7-1-109
Section Captions§ 7-1-201
General Definitions§ 7-1-202
Notice; Knowledge§ 7-1-204
Value§ 7-1-205
Reasonable Time; Seasonableness§ 7-1-206
Presumptions