382-A:9-104 Control of Deposit Account. – (a)Requirements for control. 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)Debtor's right to direct disposition. 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. 2001, 102:25, eff. July 1, 2001. 2022, 281:51, eff. Jan. 1, 2023.
New Hampshire Legal Code