Maine Revised Statutes Title 11 Sec. 9-1332 – Transfer of money; transfer of funds from deposit account
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(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.
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
Terms Used In Maine Revised Statutes Title 11 Sec. 9-1332
- Account: includes health-care-insurance receivables. See Maine Revised Statutes Title 11 Sec. 9-1102
- Debtor: means :
(a). See Maine Revised Statutes Title 11 Sec. 9-1102Deposit account: means a demand, time, savings, passbook or similar account maintained with a bank. See Maine Revised Statutes Title 11 Sec. 9-1102 Secured party: means :
(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.
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
SECTION HISTORY
PL 1999, c. 699, §A2 (NEW). PL 1999, c. 699, §A4 (AFF).