8.9A-332 - A-332. Transfer of money, transfer of funds from deposit account. - Virginia Statutes

§ 8.9A-332. Transfer of money, transfer of funds from deposit account.

(a) Transferee of money. A transferee of money takes the money free of asecurity interest unless the transferee acts in collusion with the debtor inviolating the rights of the secured party.

(b) Transferee of funds from deposit account. A transferee of funds from adeposit account takes the funds free of a security interest in the depositaccount unless the transferee acts in collusion with the debtor in violatingthe rights of the secured party.

(2000, c. 1007.)