Iowa Code 554.9341 – Bank’s rights and duties with respect to deposit account
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Except as otherwise provided in section 554.9340, subsection 3, 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;
Terms Used In Iowa Code 554.9341
- Account: means the same as defined in section 554. See Iowa Code 554E.1
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Deposit account: means the same as defined in section 554. See Iowa Code 554E.1
- Record: means the same as defined in section 554D. See Iowa Code 554E.1
2. the bank’s knowledge of the security interest; or
3. the bank’s receipt of instructions from the secured party.