Iowa Code 554.9342 – Bank’s right to refuse to enter into or disclose existence of control agreement
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Terms Used In Iowa Code 554.9342
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
This Article does not require a bank to enter into an agreement of the kind described in section 554.9104, subsection 1, paragraph “b”, even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person unless requested to do so by its customer.