Legislation
SECTION 9-342
Bank's Right to Refuse to Enter into or Disclose Existence of Control Agreement
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 9, PART 3, SUBPART 4
Section 9--342. Bank's Right to Refuse to Enter into or Disclose
Existence of Control Agreement.
This article does not require a bank to enter into an agreement of the
kind described in Section 9--104(a)(2), even if its customer so requests
or directs. A bank that has entered into such an agreement is not
required to confirm the existence of the agreement to another person
unless requested to do so by its customer.
Existence of Control Agreement.
This article does not require a bank to enter into an agreement of the
kind described in Section 9--104(a)(2), even if its customer so requests
or directs. A bank that has entered into such an agreement is not
required to confirm the existence of the agreement to another person
unless requested to do so by its customer.