Montana § 30-9A-208 Additional Duties Of Secured Party Having Control Of Collateral

Montana Statutes

§ 30-9A-208 — Additional Duties Of Secured Party Having Control Of Collateral

Montana § 30-9A-208

Title 30TRADE AND COMMERCE

Ch. 9AUNIFORM COMMERCIAL CODE SECURED TRANSACTIONS

Part 2Effectiveness of Security Agreement -- Attachment of Security Interest -- Rights of Parties to Security Agreement

This text of Montana § 30-9A-208 (Additional Duties Of Secured Party Having Control Of Collateral) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 30-9A-208 (2026).

Text

30-9A-208 . Additional duties of secured party having control of collateral.

(1)This section applies if:

(a)there is no outstanding secured obligation; and

(b)the secured party is not committed to make advances, incur obligations, or otherwise give value.

(2)Within 10 days after receiving a signed demand by the debtor:

(a)a secured party having control of a deposit account under 30-9A-104 (1)(b) shall send to the bank with which the deposit account is maintained a signed record that releases the bank from any further obligation to comply with instructions originated by the secured party;

(b)a secured party having control of a deposit account under 30-9A-104 (1)(c) shall:

(i)pay the debtor the balance on deposit in the deposit account; or

(ii)transfer the balance on deposit into a d

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30-9A-208 . Additional duties of secured party having control of collateral. (1) This section applies if:
(a) there is no outstanding secured obligation; and
(b) the secured party is not committed to make advances, incur obligations, or otherwise give value.
(2) Within 10 days after receiving a signed demand by the debtor:
(a) a secured party having control of a deposit account under 30-9A-104 (1)(b) shall send to the bank with which the deposit account is maintained a signed record that releases the bank from any further obligation to comply with instructions originated by the secured party;
(b) a secured party having control of a deposit account under 30-9A-104 (1)(c) shall:
(i) pay the debtor the balance on deposit in the deposit account; or
(ii) transfer the balance on deposit into a deposit account in the debtor's name;
(c) a secured party, other than a buyer, having control under 30-9A-105 of an authoritative electronic copy of a record evidencing chattel paper shall transfer control of the electronic copy to the debtor or a person designated by the debtor;
(d) a secured party having control of investment property under 30-8-116 (4)(b) or 30-9A-106 (2) shall send to the securities intermediary or commodity intermediary with which the security entitlement or commodity contract is maintained a signed record that releases the securities intermediary or commodity intermediary from any further obligation to comply with entitlement orders or directions originated by the secured party;
(e) a secured party having control of a letter-of-credit right under 30-9A-107 shall send to each person having an unfulfilled obligation to pay or deliver proceeds of the letter of credit to the secured party a signed release from any further obligation to pay or deliver proceeds of the letter of credit to the secured party;
(f) a secured party having control under 30-7-107 of an authoritative electronic copy of an electronic document of title shall transfer control of the electronic copy to the debtor or a person designated by the debtor; and
(g) a secured party having control under 30-12A-105 of a controllable electronic record, other than a buyer of a controllable account or controllable payment intangible evidenced by the controllable electronic record, shall transfer control of the controllable electronic record to the debtor or a person designated by the debtor.

Legislative History

En. Sec. 17, Ch. 305, L. 1999; Sec. 30-9-218, MCA 1999; redes. 30-9A-208 by Code Commissioner, 2001; amd. Sec. 77, Ch. 575, L. 2005; amd. Sec. 53, Ch. 200, L. 2025.