Ky. Rev. Stat. § 355.9-332

Current through Acts Received April 24, 2024
Section 355.9-332 - [Effective 1/1/2025] Transfer of money - Transfer of funds from deposit account
(1) 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.
(2) 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.
(3) 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.

KRS 355.9-332

Amended by 2024 Ky. Acts ch. TBD,§ 73, eff. 1/1/2025.
Effective:7/1/2001
Created 2000, Ky. Acts ch. 408, sec. 72, effective7/1/2001.
This section is set out more than once due to postponed, multiple, or conflicting amendments.