Article 16 - Perfection by Control: Bank Accounts
Security Interest in a Bank Account may be perfected by the Secured Party having control of the Bank Account.
Secured Party has control of a Bank Account if:
Bank itself is the Secured Party;
Debtor, Secured Party and the Bank have entered into a written agreement that the Bank will comply with instructions originated by the Secured Party directing disposition of the funds in the Bank Account without further consent by the Debtor; or
Secured Party, with the written agreement of the Bank and the Debtor, becomes the account holder, whether solely or jointly with any other Person (including the Debtor).
Secured Party may have control under this Article even if the Debtor retains the right to dispose of funds in the Bank Account.
Bank need not enter into a written control agreement with a Secured Party even if the Debtor directs it to do so. A Bank which has entered into a written control agreement must confirm the existence of the agreement to another Person if required to do so by the Debtor.