§ 8.9A-332 Transfer of money, transfer of funds from deposit account
a. Transferee of tangible money. 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. Transferee of funds from deposit account. A transferee of funds from a deposit account takes the funds free of a security interest if the transferee receives the funds without acting in collusion with the debtor in violating the rights of the secured party.
c. Transferee of electronic money. 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.
History
This law was first created in 2000. The record of its establishment is cataloged in chapter 1007 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2024, chapter 652.
2000, c. 1007; 2024, c. 652.