Alabama § 7-9A-341 Bank’s Rights and Duties with Respect to Deposit Account

Alabama Statutes

§ 7-9A-341 — Bank’s Rights and Duties with Respect to Deposit Account

Alabama·Title 7 Commercial Code·Art. 9A Secured Transactions·Div. 4 Rights of Bank·Part 3 Perfection and Priority

Except as otherwise provided in Section 7-9A-340(c), and unless the bank otherwise agrees in a signed record, a bank’s rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by:

(1)the creation, attachment, or perfection of a security interest in the deposit account;

(2)the bank’s knowledge of the security interest; or

(3)the bank’s receipt of instructions from the secured party.

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Except as otherwise provided in Section 7-9A-340(c), and unless the bank otherwise agrees in a signed record, a bank’s rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by:
(1) the creation, attachment, or perfection of a security interest in the deposit account;
(2) the bank’s knowledge of the security interest; or
(3) the bank’s receipt of instructions from the secured party.

Alabama § 7-9A-341 (Bank’s Rights and Duties with Respect to Deposit Account) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.