§ 28:9-342. Bank's right to refuse to enter into or disclose existence of control agreement.

Current through October 23, 2012

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.

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

HISTORICAL AND STATUTORY NOTES

UNIFORM COMMERCIAL CODE COMMENT

Source

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

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.

Legislative History of Laws

For Law 13-201, see notes following § 28:9-101.