Okla. Stat. tit. 12A, § 12A-1-9-104
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-104, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Control of deposit account
Official statutory text
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.
(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.
Status: in_force · Read it on the official government site
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