Code of Virginia (2024 Updates)

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Code of Virginia
Title 8.9A. Commercial Code — Secured Transactions
Part 3. Perfection and Priority
Part 4. Rights of Bank

4/29/2025

§ 8.9A-341. (Effective until July 1, 2025) Bank's rights and duties with respect to deposit account. (2024 updated section)

Except as otherwise provided in § 8.9A-340 (c), 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.

2000, c. 1007.

8.9A-341. (Effective July 1, 2025) Bank's rights and duties with respect to deposit account (2024 updated section)

Except as otherwise provided in § 8.9A-340 (c), 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.

2000, c. 1007; 2024, c. 652.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.