                                 CODE OF VIRGINIA

TRANSFER OF MONEY, TRANSFER OF FUNDS FROM DEPOSIT ACCOUNT (§ 8.9A-332)

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: 2000, c. 1007; 2024, c. 652.