Section 9--104. Control of Deposit Account.\n (a) Requirements for control. A secured party has control of a deposit\naccount if:\n (1) the secured party is the bank with which the deposit account\n is maintained;\n * (2) the debtor, secured party, and bank have agreed in an\n authenticated record that the bank will comply with\n instructions originated by the secured party directing\n disposition of the funds in the deposit account without\n further consent by the debtor;\n * NB Effective until June 3, 2026\n * (2) the debtor, secured party, and bank have agreed in a signed\n record that the bank will comply with instructions originated\n by the secured party directing disposition of the funds
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Section 9--104. Control of Deposit Account.\n (a) Requirements for control. A secured party has control of a deposit\naccount if:\n (1) the secured party is the bank with which the deposit account\n is maintained;\n * (2) the debtor, secured party, and bank have agreed in an\n authenticated record that the bank will comply with\n instructions originated by the secured party directing\n disposition of the funds in the deposit account without\n further consent by the debtor;\n * NB Effective until June 3, 2026\n * (2) the debtor, secured party, and bank have agreed in a signed\n record that the bank will comply with instructions originated\n by the secured party directing disposition of the funds in\n the deposit account without further consent by the debtor;\n * NB Effective June 3, 2026\n (3) the secured party becomes the bank's customer with respect to\n the deposit account;\n (4) the name on the deposit account is the name of the secured\n party or indicates that the secured party has a security\n interest in the deposit account; or\n * (5) another person has control of the deposit account on behalf\n of the secured party or, having previously acquired control\n of the deposit account, acknowledges that it has control on\n behalf of the secured party.\n * NB Effective until June 3, 2026\n * (5) another person, other than the debtor:\n(A) has control of the deposit account and acknowledges that it has\ncontrol on behalf of the secured party; or\n(B) obtains control of the deposit account after having acknowledged\nthat it will obtain control of the deposit account on behalf of the\nsecured party.\n * NB Effective June 3, 2026\n (b) Debtor's right to direct disposition. A secured party that has\nsatisfied subsection (a) has control, even if the debtor retains the\nright to direct the disposition of funds from the deposit account.\n (c) No implied duties of bank. The authentication of a record by the\nbank under subsection (a)(2) does not impose upon the bank any duty not\nexpressly agreed to by the bank in the record. The naming of the deposit\naccount in the name of the secured party or with an indication that the\nsecured party has a security interest in the deposit account under\nsubsection (a)(4) does not impose upon the bank any duty not expressly\nagreed to by the bank.\n (d) Conditions not relevant. A secured party has control under\nsubsection (a)(2) even if any duty of the bank to comply with\ninstructions originated by the secured party directing disposition of\nthe funds in the deposit account is subject to any condition or\nconditions (other than further consent by the debtor).\n (e) No inferences. The procedures and requirements of subsection\n(a)(4) available to obtain control shall not be used in interpreting the\nsufficiency of a secured party's compliance with the procedures and\nrequirements of subsection (a)(1), (a)(2) or (a)(3) to obtain control.\nThe provisions of subsection (a)(4) shall create no inference regarding\nthe requirements for compliance with subsection (a)(1), (a)(2) or\n(a)(3).\n