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.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 9 - SECURED TRANSACTIONS
Section 28-9-101 - SHORT TITLE.
Section 28-9-102 - DEFINITIONS AND INDEX OF DEFINITIONS.
Section 28-9-104 - CONTROL OF DEPOSIT ACCOUNT.
Section 28-9-105 - CONTROL OF ELECTRONIC CHATTEL PAPER.
Section 28-9-106 - CONTROL OF INVESTMENT PROPERTY.
Section 28-9-107 - CONTROL OF LETTER OF CREDIT RIGHT.
Section 28-9-108 - SUFFICIENCY OF DESCRIPTION.
Section 28-9-110 - SECURITY INTERESTS ARISING UNDER CHAPTER 2 OR 12, TITLE 28, IDAHO CODE.