62A.9A-103  <<  62A.9A-104 >>   62A.9A-105

Control of deposit account.

*** CHANGE IN 2023 *** (SEE 5077-S.SL) ***
(a) Requirements for control. 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 an authenticated 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; or
(3) The secured party becomes the bank's customer with respect to the deposit account.
(b) Debtor's right to direct disposition. A secured party that has satisfied subsection (a) of this section has control, even if the debtor retains the right to direct the disposition of funds from the deposit account.
[ 2001 c 32 § 17; 2000 c 250 § 9A-104.]


Effective date2001 c 32: See note following RCW 62A.9A-102.
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