11 §9-1342. Bank's right to refuse to enter into or disclose existence of control agreement - Maine Statutes

Title 11: UNIFORM COMMERCIAL CODE

Article 9-A: TRANSACTIONS HEADING: PL 1999, C. 699, PT. A, §2 (NEW)

Part 3: PERFECTION AND PRIORITY HEADING: PL 1999, C. 699, PT. A, §2 (NEW)

Subpart 4: RIGHTS OF BANK HEADING: PL 1999, C. 699, PT. A, §2 (NEW)

§9-1342. Bank's right to refuse to enter into or disclose existence of control agreement

This Article does not require a bank to enter into an agreement of the kind described in section 9-1104, subsection (1), paragraph (b), 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. [1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF).]

SECTION HISTORY

1999, c. 699, §A2 (NEW). 1999, c. 699, §A4 (AFF).