Bank's rights and duties with respect to deposit account
Known as the Uniform Commercial Code
The act spans §§ 355.10-101 to 355.9-809 (686 sections).
Applied in 1 court decision — leading case Kentucky Highlands Investment Corp. v. Bank of Corbin, Inc. (2006)
Most recently applied in Kentucky Highlands Investment Corp. v. Bank of Corbin, Inc. (September 2006)
Effective: January 1, 2025 History: Amended 2024 Ky
Except as otherwise provided in KRS 355.9-340(3), and unless the bank otherwise agrees in a signed record, a bank's rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by:
(1) The creation, attachment, or perfection of a security interest in the deposit account;
(2) The bank's knowledge of the security interest; or (3) The bank's receipt of instructions from the secured party.
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.