Transfer of money - transfer of funds from deposit account - UCC 9-332

Ohio Rev. Code Ann. § 1309.332, under Secured Transactions.

Ohio Rev. Code Ann. § 1309.332

Transfer of money; transfer of funds from deposit account [UCC 9-332]

(A) 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) 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.

(C) 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.