Kentucky Statutes 355.9-341 – Bank’s rights and duties with respect to deposit account
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Except as otherwise provided in KRS § 355.9-340(3), and unless the bank otherwise agrees in an authenticated record, a bank’s rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by:
(1) The creation, attachment, or perfection of a security interest in the deposit account; (2) The bank’s knowledge of the security interest; or
(3) The bank’s receipt of instructions from the secured party.
Effective: July 1, 2001
History: Created 2000 Ky. Acts ch. 408, sec. 81, effective July 1, 2001.
(1) The creation, attachment, or perfection of a security interest in the deposit account; (2) The bank’s knowledge of the security interest; or
Terms Used In Kentucky Statutes 355.9-341
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
(3) The bank’s receipt of instructions from the secured party.
Effective: July 1, 2001
History: Created 2000 Ky. Acts ch. 408, sec. 81, effective July 1, 2001.