Section 440.9342 – Bank’s Right to Refuse to Enter Into or Disclose Existence of Control Agreement.
440.9342 Bank’s right to refuse to enter into or disclose existence of control agreement. Sec. 9342. This article does not require a bank to enter into an agreement of the kind described in section 9104(1)(b), even if its customer so requests or directs. A bank that has entered into such an agreement is not required […]
Section 440.9340 – Effectiveness of Right of Recoupment or Setoff Against Deposit Account.
440.9340 Effectiveness of right of recoupment or setoff against deposit account. Sec. 9340. (1) Except as otherwise provided in subsection (3), a bank with which a deposit account is maintained may exercise any right of recoupment or setoff against a secured party that holds a security interest in the deposit account. (2) Except as otherwise […]
Section 440.9341 – Bank’s Rights and Duties With Respect to Deposit Account.
440.9341 Bank’s rights and duties with respect to deposit account. Sec. 9341. Except as otherwise provided in section 9340(3), and unless the bank otherwise agrees in an authenticated 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 or more of […]