Control of deposit account

4-9-104. 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 a signed 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; (3) The secured party becomes the bank's customer with respect to the deposit account; or (4) Another person, other than the debtor: (A) Has control of the deposit account and acknowledges that it has control on behalf of the secured party; or (B) Obtains control of the deposit account after having acknowledged that it will obtain control of the deposit account on behalf of the secured party. (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. Source: L. 2001: Entire article R&RE, p. 1328, � 1, effective July 1. L. 2023: (a)(2) and (a)(3) amended and (a)(4) added, (SB 23-090), ch. 136, p. 544, � 43, effective August 7.