Chapter 79 — Secured Transactions
ORS 79.0104 UCC 9-104
Control of deposit account. (1) A secured party has control of a deposit account if:
The secured party is the bank with which the deposit account is maintained;
The debtor, secured party and bank have agreed in an authenticated 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; or
The secured party becomes the bank’s customer with respect to the deposit account.
A secured party that has satisfied subsection (1) of this section has control, even if the debtor retains the right to direct the disposition of funds from the deposit account.
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Provenance
2023 Oregon Revised Statutes
Official online edition
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- oregonlegislature.gov
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Version history
Prior statutory text is not available in the ingested published editions. Consult an earlier official ORS edition or the cited Oregon Laws chapter.
2025 Oregon Revised Statutes — official online source · renumbered · designation only
Official source2023 Oregon Revised Statutes · active · operative text
Official source