BANK'S RIGHTS AND DUTIES WITH RESPECT TO DEPOSIT ACCOUNT
Known as the Uniform Commercial Code
The act spans §§ 1.101 to 12.004 (616 sections).
Applied in 1 court decision — leading case 717 F. Supp. 2d 599 - City Bank v. Compass Bank (2010)
Most recently applied in 717 F. Supp. 2d 599 - City Bank v. Compass Bank (May 2010)
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff
Except as otherwise provided in Section 9.340(c), and unless the bank otherwise agrees in an authenticated 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: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.