Code of Virginia (Last Updated:July 28, 2020) |
TITLE 8.9A. Commercial Code - Secured Transactions |
PART 3. Perfection and Priority |
SECTION 8.9A-332. Transfer of money, transfer of funds from deposit account |
(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. 1007 . |