Current through 2024 Legislative Session
Section 41-09-52 - (9-332) Transfer of money - Transfer of funds from deposit account1. 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.Amended by S.L. 2023 , ch. 371( HB 1082 ), § 71, eff. 8/1/2023.