Bank’s right to refuse to enter into or disclose existence of control agreement

Checkout our iOS App for a better way to browser and research.

This article does not require a bank to enter into an agreement of the kind described in § 28:9-104(a)(2), even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person unless requested to do so by its customer.

(Oct. 26, 2000, D.C. Law 13-201, § 101, 47 DCR 7576.)

Uniform Commercial Code Comment

1. Source. New; derived from Section 8-106(g).

2. Protection for Bank. This section protects banks from the need to enter into agreements against their will and from the need to respond to inquiries from persons other than their customers.


Download our app to see the most-to-date content.