Laws of New York (Last Updated: November 21, 2014) |
UCC Uniform Commercial Code |
Article 9. SECURED TRANSACTIONS |
Part 2. EFFECTIVENESS OF SECURITY AGREEMENT; ATTACHMENT OF SECURITY INTEREST; RIGHTS OF PARTIES TO SECURITY AGREEMENT |
SubPart 2. RIGHTS AND DUTIES |
Section 9--208. Additional Duties of Secured Party Having Control of Collateral
Latest version.
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(a) Applicability of section. This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations, or otherwise give value. (b) Duties of secured party after receiving demand from debtor. Within 10 days after receiving an authenticated demand by the debtor: (1) a secured party having control of a deposit account under