§490:9-104  Control of deposit account.  (a)  A secured party shall be deemed to have 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) has control, even if the debtor retains the right to direct the disposition of funds from the deposit account. [L 2000, c 241, pt of §1; am L 2023, c 132, §36]