Ind. Code § 26-1-9.1-107.2

Control on behalf of another person; deposit accounts and authoritative electronic copies of record evidencing chattel paper; acknowledgment not required

Known as the Uniform Commercial Code

The act spans §§ 26-1-1-0.2 to 26-1-9.1-902 (630 sections).

As added by P.L.199-2023, SEC.44.

Sec. 107.2. (a) A person that has control under section 104 or 105 of this chapter is not required to acknowledge that it has control on behalf of another person.

(b) If a person acknowledges that it has or will obtain control on behalf of another person, unless the person otherwise agrees or law other than this chapter otherwise provides, the person does not owe any duty to any other person and is not required to confirm the acknowledgment to any other person.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.