30-9A-332. Transfer of money -- transfer of funds from deposit account, MCA

Montana Code Annotated 2017

TITLE 30. TRADE AND COMMERCE

CHAPTER 9A. UNIFORM COMMERCIAL CODE SECURED TRANSACTIONS

Part 3. Perfection and Priority

Transfer Of Money -- Transfer Of Funds From Deposit Account

30-9A-332. Transfer of money -- transfer of funds from deposit account. (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.

(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.

History: En. Sec. 51, Ch. 305, L. 1999; Sec. 30-9-352, MCA 1999; redes. 30-9A-332 by Code Commissioner, 2001.