Control of deposit account

810 ILCS 5/9-104, under Short Title, Definitions, And General Concepts.

810 ILCS 5/9-104

(810 ILCS 5/9-104) (from Ch. 26, par. 9-104)     Sec. 9-104. Control of deposit account.     (a) Requirements for control. 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 deposit 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) Debtor's right to direct disposition. A secured party that has satisfied subsection (a) has control, even if the debtor retains the right to direct the disposition of funds from the deposit account. (Source: P.A. 103-1036, eff. 1-1-25.)