810 ILCS 5/9-332

    (810 ILCS 5/9-332)
    (Text of Section before amendment by P.A. 103-1036)
    Sec. 9-332. Transfer of money; transfer of funds from deposit account.

(a) Transferee of money.  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) Transferee of funds from deposit account.  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.

(Source: P.A. 91-893, eff. 7-1-01.)

    (Text of Section after amendment by P.A. 103-1036)
    Sec. 9-332. 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 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) 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.

(Source: P.A. 103-1036, eff. 1-1-25.)