Statutes > New Mexico Statutes > Chapter 55 - Uniform Commercial Code. > Article 9 - Secured Transactions, 55-9-101 through 55-9-710. > Section 55-9-342 - Bank's right to refuse to enter into or disclose existence of control agreement.

Section 55-9-342 - Bank's right to refuse to enter into or disclose existence of control agreement.

55-9-342. Bank's right to refuse to enter into or disclose existence of control agreement.

Chapter 55, Article 9 NMSA 1978 does not require a bank to enter into an agreement of the kind described in Paragraph (2) of Subsection (a) of Section 55-9-104 NMSA 1978, 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.