Legal Opinion
Orix Financial Services, Inc. v. Kovacs
California Court of Appeal
Decided September 30, 2008No. A119605PublishedCited by 5 opinions
1Opinion of the Court
Opinion
REARDON, J. *
California Uniform Commercial Code section 9332, subdivision (b) 1 reads, “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.” This case presents a very narrow question—one of first impression in California: Is an unsecured judgment creditor, which satisfies its judgment from deposit account funds, included in the definition of “transferee” as contemplated by section 9332(b), such that it may take those funds…
2Cases cited6 opinions
- Zelig v. County of Los AngelesCalifornia Supreme Court · 2002
- Harley-Davidson Motor Co., Inc., and Itt Commercial Finance Corp. v. Bank of New England--Old Colony, N.A.Court of Appeals for the First Circuit · 1990
- Orix Credit Alliance, Inc. v. Sovran Bank, N.A.Court of Appeals for the Fourth Circuit · 1993
- General Electric Capital Corporation, Appellant/cross-Appellee v. Union Planters Bank, Na, Appellee/cross-AppellantCourt of Appeals for the Eighth Circuit · 2005
- HCC Credit Corp. v. Springs Valley Bank & TrustIndiana Supreme Court · 1999
1 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- E. Liverpool v. Buckeye Water Dist.Ohio Court of Appeals · 2012
- Zimmerling v. Affinity Financial Corp.Massachusetts Appeals Court · 2014
- Banner Bank v. First Community BankDistrict Court, D. Montana · 2012
- Cynosure v. Champlain Valley DispensaryVermont Superior Court · 2025
- Wulco, Inc. v. O'Gara Group, Inc.Ohio Court of Appeals · 2023