(1) 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.

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Terms Used In Oregon Statutes 79.0332

  • Deposit account: means a demand, time, savings, passbook or similar account maintained with a bank. See Oregon Statutes 79.0102

(2) 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. [2001 c.445 § 52]

 

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