Which of the following is a means of obtaining control over the collateral?
A)The secured party becomes the bank's customer for the deposit account.
B)The debtor is the bank with which the deposit is maintained.
C)The bank has agreed to comply with the debtor's instructions regarding the funds in the account.
D)The debtor becomes the bank's customer for the deposit account.

Question

Quizplus · Accepted Answer

A secured party can provide a form of public notice by controlling the collateral [UCC 9-314].Control is the only perfection method if the collateral is a deposit account [UCC 9-312(b) (1)].One of the ways a secured party obtains control is by becoming the bank's customer for the deposit account.

Which of the Following Is a Means of Obtaining Control