Okla. Stat. tit. 12A § 1-9-342

Current through Laws 2024, c. 453.
Section 1-9-342 - Bank's right to refuse to enter into or disclose existence of control agreement

This article does not require a bank to enter into an agreement of the kind described in paragraph (2) of subsection (a) of Section 1-9-104 of this title, 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.

Okla. Stat. tit. 12A, § 1-9-342

Added by Laws 2000 , SB 1519, c. 371, § 69, eff. 7/1/2001.

Oklahoma Code Comment

Like section 9-341, section 9-342 is entirely new and is designed to protect banks as stated in the Official Comment. See Oklahoma Comment to sections 9- 332, 9-340, and 9-341 .