12A:9-342 - Bank's right to refuse to enter into or disclose existence of control agreement - New Jersey Statutes

12A:9-342  Bank's right to refuse to enter into or disclose existence of control agreement.

12A:9-342.  Bank's Right to Refuse to Enter into or Disclose Existence of Control Agreement.

This chapter does not require a bank to enter into an agreement of the kind described in 12A: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.

L.2001, c.117, s.1; amended 2001, c.386, s.57.