Commercial Code section 9332

(a)

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.

(b)

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.

(c)

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.

Source: Section 9332, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=COM§ionNum=9332. (accessed Apr. 24, 2025).

Last Updated

Apr. 24, 2025

§ 9332’s source at ca.gov

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Location: https://california.public.law/codes/commercial_code_section_9332

Original Source: Section 9332, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=COM§ionNum=9332. (last accessed Apr. 24, 2025).