Washington Code 62A.9A-332 – Transfer of money; transfer of funds from deposit account
Current as of: 2023 | Check for updates
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(a) Transferee of money. 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.
(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 unless the transferee acts in collusion with the debtor in violating the rights of the secured party.
[2000 c 250 § 9A-332.]
PDFRCW 62A.9A-332
Transfer of money; transfer of funds from deposit account. (Effective January 1, 2024.)
(a) Transferee of tangible money. 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) 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.
(c) Transferee of electronic money. 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.
[ 2023 c 266 § 930; 2000 c 250 § 9A-332.]
NOTES:
Construction—Effective date—2023 c 266: See notes following RCW 62A.12-101.