Nev. Rev. Stat. § 104.9104

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 104.9104 - Control of deposit account
1. A secured party has control of a deposit account if:
(a) The secured party is the bank with which the deposit account is maintained;
(b) 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;
(c) The secured party becomes the bank's customer with respect to the deposit account; or
(d) Another person, other than the debtor:
(1) Has control of the deposit account and acknowledges that it has control on behalf of the secured party; or
(2) Obtains control of the deposit account after having acknowledged that it will obtain control of the deposit account on behalf of the secured party.
2. A secured party that has satisfied subsection 1 has control, even if the debtor retains the right to direct the disposition of funds from the deposit account.

NRS 104.9104

Added to NRS by 1999, 292; A 2001, 719; 2023, 3204
Amended by 2023, Ch. 505,§50, eff. 10/1/2023.
Added to NRS by 1999, 292; A 2001, 719