Idaho Statutes

Idaho Statutes are updated to the web July 1 following the legislative session.

pecnv.out

TITLE 28
COMMERCIAL TRANSACTIONS
CHAPTER 9
SECURED TRANSACTIONS
PART 1.
GENERAL PROVISIONS
28-9-104.  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 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)  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.

History:
[28-9-104, added 2001, ch. 208, sec. 2, p. 719.]


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