Pennsylvania § 9341 Bank's rights and duties with respect to deposit account

Pennsylvania Statutes

§ 9341 — Bank's rights and duties with respect to deposit account

Pennsylvania·Title 13 COMMERCIAL CODE·Ch. 93 PERFECTION AND PRIORITY·Subch. RIGHTS OF BANK

Except as otherwise provided in section 9340(c) (relating to when set-off ineffective) 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 9340(c) (relating to when set-off ineffective) 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.

Pennsylvania § 9341 (Bank's rights and duties with respect to deposit account) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(July 1, 2024, P.L.450, No.41, eff. 60 days) 2024 Amendment.See section 1 of Act 41 in the appendix to this title for special provisions relating to findings and declarations.