Illinois § 9-341 Bank's rights and duties with respect to deposit account

Illinois Statutes

§ 9-341 — Bank's rights and duties with respect to deposit account

Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 9 - Secured Transactions

Except as otherwise provided in Section 9-340(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.

Free access — add to your briefcase to read the full text and ask questions with AI

Except as otherwise provided in Section 9-340(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.

Illinois § 9-341 (Bank's rights and duties with respect to deposit account) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.