Control of deposit account

CONTROL OF DEPOSIT ACCOUNT

(a) 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) A secured party that has satisfied subsection (a) of this

section has control, even if the debtor retains the right to direct

the disposition of funds from the deposit account.