Okla. Stat. tit. 12A § 1-9-341

Current through Laws 2024, c. 453.

Section 1-9-341 - [Effective 11/1/2024] Bank's rights and duties with respect to deposit account

Except as otherwise provided in subsection (c) of Section 1-9-340 of this title, and unless the bank otherwise agrees in a signed 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.

Okla. Stat. tit. 12A, § 1-9-341

Amended by Laws 2024, c. 13,s. 72, eff. 11/1/2024.

Added by Laws 2000 , SB 1519, c. 371, § 68, eff. 7/1/2001.

Oklahoma Code Comment

Section 9-341 is designed to ensure that security interests in deposit accounts will not interfere with bank deposit transactions or the bank payment system or other rules governing deposit accounts and will not otherwise "clog" the payments system. The rules of 9-341 are entirely new and are well described by the Official Comments. See also revised section 9-104 , and sections 9-330 B9-332, 9-340, and 9-342 .

This section is set out more than once due to postponed, multiple, or conflicting amendments.