Statutes > New Mexico Statutes > Chapter 55 - Uniform Commercial Code. > Article 9 - Secured Transactions, 55-9-101 through 55-9-710. > Section 55-9-332 - Transfer of money; transfer of funds from deposit account.

Section 55-9-332 - Transfer of money; transfer of funds from deposit account.

55-9-332. Transfer of money; transfer of funds from deposit account.

(a)     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.   

(b)     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.