554.9104 Control of deposit account. 1. Requirements for control. A secured party has control of a deposit account if:a. the secured party is the bank with which the deposit account is maintained;b. 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 ofthe funds in the deposit account without further consent by the debtor; or c. the secured party becomes the bank’s customer with respect to the deposit account.2. Debtor’s right to direct disposition. A secured party that has satisfied subsection 1 has control, even if the debtor retains the right to direct the disposition of funds from the depositaccount. 2000 Acts, ch 1149, §4, 185, 187Referred to in §554.9203, 554.9207, 554.9208, 554.9314, 554.9327, 554.9340, 554.9342, 554.9601, 554.9607 Sat Dec 23 01:59:10 2023 Iowa Code 2024, Section 554.9104 (25, 0)
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