Oklahoma Statutes
§ 12A-1-9-104 — Control of deposit account.
Oklahoma·Title 12A Uniform Commercial Code
CONTROL OF DEPOSIT ACCOUNT (a) A secured party has control of a deposit account if:
(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;
(3)the secured party becomes the bank's customer with respect to the deposit account; or (4) another person, other than the debtor:
(A)has control of the deposit account and acknowledges that it has control on behalf of the secured party; or (B) obtains control of the deposit account after having acknowledged that it will obtain control of the deposit account on behalf of the secured par
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Legislative History
Added by Laws 2000, c. 371, § 4, eff. July 1, 2001. Amended by Laws 2024, c. 13, § 43, eff. Nov. 1, 2024.
Nearby Sections
15
§ 12A-1-101
Short titles.§ 12A-1-102
Scope of article.§ 12A-1-104
Construction against implicit repeal.§ 12A-1-106
Use of singular and plural - Gender.§ 12A-1-107
Section captions.§ 12A-1-108
Repealed§ 12A-1-108.1
Relationship to Electronic Signatures in Global and§ 12A-1-202
Notice - Knowledge.§ 12A-1-203
Lease distinguished from security interest.§ 12A-1-204
"Value".§ 12A-1-205
Reasonable time - Seasonableness.§ 12A-1-206
Presumptions.