Section 29: Priority with respect to receipt of Fund and Cash

(1) A Financial Institution's right of set-off shall have priority over a perfected Security Interest that extends to a deposit account.
(2) A transferee of funds from a deposit account or cash other than from a deposit account takes the funds or cash free of a Security Interest unless the transferee acts in collusion with the Grantor or the Borrower in violating the rights of the Creditor.
(3) A Transferee of cash for the purpose of this section does not include a mere bailee.