Banks Reign Supreme Under Revised Article 9 Deposit Account Rules

Willa E. Gibson, University of Akron School of Law

Abstract

One of the significant changes Revised Article 9 made to the Uniform Commercial Code Rules of Secured Transactions was the inclusion of deposit accounts as collateral within its scope. Revised Article 9 requires creditors to have control of deposit accounts before perfection of their security interest in them. This article examines deposit account rules by focusing on the efficiency of, and the justification for, the control rules.