Browse Arkansas Code titles and sections
4-9-342. Bank's right to refuse to enter into or disclose existence of control agreement.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-9-342. Bank's right to refuse to enter into or disclose existence of control agreement.
This chapter does not require a bank to enter into an agreement of the kind described in § 4-9-104(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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-9-342
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:4-9-342
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 6ffee52150c995d404cad2cd89dfc4c0cf3a33c0eca5aab2a003b42088168a87
Source location: content.xml paragraph 10048
Stored source content
4-9-342. Bank's right to refuse to enter into or disclose existence of control agreement.
This chapter does not require a bank to enter into an agreement of the kind described in § 4-9-104(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.
Cross-references
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Arkansas Code — all titles (historical 2020) · legal_authorities
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 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) has control, even if the debtor retains the right to direct the disposition of funds from the deposit account.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-9-104
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 4-9-104. This identifies an authority to review, not proof of applicability.