The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 9-104)
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§ 9—104. Control of deposit account
(a) A secured party has control of a deposit account if:
(1) the secured party is the bank with which the deposit account is maintained;
(2) the debtor, secured party, and bank have agreed in a signed record that the bank will
comply with instructions originated by the secured party directing disposition of
the funds in the account without further consent by the debtor;
(3) the secured party becomes the bank’s customer with respect to the deposit account;
or
(4) another person, other than the debtor:
(A) has control of the deposit account and acknowledges that it has control on behalf
of the secured party; or
(B) obtains control of the deposit account after having acknowledged that it will obtain
control of the deposit account on behalf of the secured party.
(b) A secured party that has satisfied subsection (a) of this section has control, even
if the debtor retains the right to direct the disposition of funds from the deposit
account. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2025, No. 17, § 9, eff. July 1, 2025.)