California Commercial Code

§ 9104

COM § 9104 Effective Jan 1, 2024Div. 9 · Ch. 1

Statute text

(a)A secured party has control of a deposit account if any of the following conditions is satisfied:

(1)The secured party is the bank with which the deposit account is maintained.

(2)The debtor, secured party, and bank have agreed in a signed record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the deposit account without further consent by the debtor.

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Legislative history

Amended by Stats. 2023, Ch. 210, Sec. 25. (SB 95) Effective January 1, 2024.