N.J. Stat. § 12A:9-341

Current through L. 2024, c. 62.
Section 12A:9-341 - Bank's Rights and Duties with Respect to Deposit Account

Except as otherwise provided in 12A:9-340 (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.

N.J.S. § 12A:9-341

Enacted c. 117, s. 1, eff. 6/26/2001, op. 7/1/2001; amended c. 386, s. 56, eff. 1/8/2002.
P.L. 2001, c. 386, s. 127 provides: "This act, P.L. 2001, c. 386, amends and supplements P.L. 2001, c. 117 and shall take effect immediately and shall be applied retroactively to July 1, 2001."