If a depositee sells the deposited property with the owner’s consent, the proceeds of the sale are not considered security, as the property itself [was considered security]. The same applies if he sells it without the owner’s consent but the latter consents afterwards.
However, if the depositor sells that property with the depositee’s consent so that the proceeds be deposited as security, then in case he violates this agreement, the transaction (muʿāmalah) is void (bāṭil) unless the depositee consents to it.