UNIFORM COMMERCIAL CODE (EXCERPT)
Act 174 of 1962
440.9342 Bank's right to refuse to enter into or disclose existence of control agreement.
Sec. 9342.
This article does not require a bank to enter into an agreement of the kind described in section 9104(1)(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.
History: Add. 2000, Act 348, Eff. July 1, 2001
Rendered 8/15/2025 4:16 AM
Michigan Compiled Laws Complete Through PA 5 of 2025
Courtesy of legislature.mi.gov