Iowa Code » Chapter 554 — UNIFORM COMMERCIAL CODE
Iowa Code

Iowa Code § 554.9104 (2026)

Control of deposit account

✓ current as of July 2026
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1. Requirements for control. A secured party has control of a deposit account if:

a. the secured party is the bank with which the deposit account is maintained;

b. 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;

c. the secured party becomes the bank’s customer with respect to the deposit account; or

d. another person, other than the debtor:

(1) has control of the deposit account and acknowledges that it has control on behalf of the secured party; or

(2) obtains control of the deposit account after having acknowledged that it will obtain control of the deposit account on behalf of the secured party.

2. Debtor’s right to direct disposition. A secured party that has satisfied subsection 1 has control, even if the debtor retains the right to direct the disposition of funds from the deposit account. 2000 Acts, ch 1149, §4, 185, 187; 2024 Acts, ch 1023, §42 Referred to in §554.9107B, 554.9203, 554.9207, 554.9208, 554.9314, 554.9327, 554.9340, 554.9342, 554.9601, 554.9607 \n

Notes of Decisions
Cited in 19 cases, 1971–2000 · leading case: Perkins v. Farmers Trust & Sav. Bank, 421 N.W.2d 533 (Iowa 1988).
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Perkins v. Farmers Trust & Sav. Bank, 421 N.W.2d 533 (Iowa 1988). · cites it 16× “[3] Codified as Iowa Code § 554.9104 (b).”
Ellefson v. Centech Corp., 606 N.W.2d 324 (Iowa 2000). · cites it 7× “The pertinent provision on this question is found in Article 9 (secured transactions) of the UCC, more specifically, Iowa Code section 554.9104(0: “This Article does not apply: .”
Fed. Land Bank v. Terpstra (In Re Porter), 90 B.R. 399 (N.D. Iowa 1988). · cites it 4× “” Iowa Code § 554.9104 (j) (1966). Hence, both parties agree that the UCC’s perfection requirements have no application to the Federal Land Bank’s lien on the rent proceeds in this case.”
Baron v. Waldo (In Re Waldo), 70 B.R. 16 (Bankr. D. Iowa 1986). · cites it 4× “While chapter 556 required recordation of contractual liens, no similar provision is retained in the present statutory law and in fact, Iowa Code section 554.9104(b) (U.C.C. 9-104(b)) suggests at first blush that the filing and recording requirements of Article 9 are…”
Coachmen Indus., Inc. v. Sec. Trust & Sav. Bank of Shenandoah, 329 N.W.2d 648 (Iowa 1983). · cites it 2× “Pursuant to section 554.9104(i) of the Iowa Code (1981), Article 9 of the Uniform Commercial Code does not affect “any right of setoff.”
Matter of Rogers, 6 B.R. 472 (Bankr. S.D. Iowa 1980). · cites it 2× “Section 554.9104, Code of Iowa (1979) excepts from the operation of Article 9 of the UCC, “[A] transfer of an interest or claim in or under any policy of insurance, except as provided with respect to proceeds (section 554.”
In Re Waters, 90 B.R. 946 (Bankr. D. Iowa 1988). · cites it 2× “The failure to treat the CRP payments as rents would create an untenable conflict between the mortgage holder and the lender who has taken a security interest pursuant to the U.C.C. in the Debtors’ chattels.”
Domain Indus., Inc. v. First Sec. Bank & Trust Co., 230 N.W.2d 165 (Iowa 1975). · cites it 3× “The amended statute (§ 554.9104(7), The Code, 1975) now provides: “This article does not apply * * * (7) to a transfer of an interest in any deposit account (§ 554.”
In Re Winzenburg, 61 B.R. 141 (Bankr. D. Iowa 1986). · cites it 2× “Bearing on this issue, the Court observes that Iowa Code Section 554.9104 (1985) provides that “this article does not apply .”
Fed. Land Bank of Omaha v. Lower, 421 N.W.2d 126 (Iowa 1988). · cites it 2× “To begin, Iowa Code section 554.9104(j) (1985) says very plainly that the secured transaction article of the UCC does not apply “to the creation .”
Corcoran v. Land O' Lakes, Inc., 39 F. Supp. 2d 1139 (N.D. Iowa 1999). · cites it 2× “Iowa Code § 554.9104 (k) (Article Nine of the UCC “does not apply .”
Peterson v. Polk Cnty. Treasurer, 452 N.W.2d 453 (Iowa 1990). · cites it 4× “" Iowa Code § 554.9104 (h) (1987). Thus, when the sheriff garnishes the treasurer, section 321.”
Show all 19 citing cases →
— Iowa Code § 554.9104(7) — 1 case
Domain Indus., Inc. v. First Sec. Bank & Trust Co., 230 N.W.2d 165 (Iowa 1975). “The amended statute (§ 554.9104(7), The Code, 1975) now provides: “This article does not apply * * * (7) to a transfer of an interest in any deposit account (§ 554.”
— Iowa Code § 554.9104(b) — 2 cases
Perkins v. Farmers Trust & Sav. Bank, 421 N.W.2d 533 (Iowa 1988). “[3] Codified as Iowa Code § 554.9104 (b).”
Baron v. Waldo (In Re Waldo), 70 B.R. 16 (Bankr. D. Iowa 1986). “While chapter 556 required recordation of contractual liens, no similar provision is retained in the present statutory law and in fact, Iowa Code section 554.9104(b) (U.C.C. 9-104(b)) suggests at first blush that the filing and recording requirements of Article 9 are…”
— Iowa Code § 554.9104(c) — 1 case
Tri City Equip. Co. v. Modern Real Est. Investments, Ltd., 460 N.W.2d 464 (Iowa 1990).
— Iowa Code § 554.9104(f) — 1 case
In Re Fort Dodge Roofing Co., 50 B.R. 666 (Bankr. D. Iowa 1985).
— Iowa Code § 554.9104(i) — 1 case
Coachmen Indus., Inc. v. Sec. Trust & Sav. Bank of Shenandoah, 329 N.W.2d 648 (Iowa 1983). “Pursuant to section 554.9104(i) of the Iowa Code (1981), Article 9 of the Uniform Commercial Code does not affect “any right of setoff.”
— Iowa Code § 554.9104(j) — 5 cases
Fed. Land Bank v. Terpstra (In Re Porter), 90 B.R. 399 (N.D. Iowa 1988). “” Iowa Code § 554.9104 (j) (1966). Hence, both parties agree that the UCC’s perfection requirements have no application to the Federal Land Bank’s lien on the rent proceeds in this case.”
Fed. Land Bank of Omaha v. Lower, 421 N.W.2d 126 (Iowa 1988). “To begin, Iowa Code section 554.9104(j) (1985) says very plainly that the secured transaction article of the UCC does not apply “to the creation .”
First State Bank of Manchester v. Heims (In Re Heims), 65 B.R. 112 (Bankr. D. Iowa 1986).
Matter of Spears, 83 B.R. 621 (Bankr. S.D. Iowa 1987).
Hollinrake v. Fed. Land Bank (In Re Hollinrake), 93 B.R. 183 (Bankr. S.D. Iowa 1988).
— Iowa Code § 554.9104(k) — 1 case
Domain Indus., Inc. v. First Sec. Bank & Trust Co., 230 N.W.2d 165 (Iowa 1975). “The amended statute (§ 554.9104(7), The Code, 1975) now provides: “This article does not apply * * * (7) to a transfer of an interest in any deposit account (§ 554.”
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