(a) The local law of a bankâs jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank even if the transaction does not bear any relation to the bankâs jurisdiction. (b) The following rules determine a bankâs jurisdiction for purposes of this chapter: (1) If an agreement between the bank and its customer governing the deposit account expressly provides that a particular jurisdiction is the bankâs jurisdiction for purposes of this chapter, this division, or this code, that jurisdiction is the bankâs jurisdiction. (2) If paragraph (1) does not apply and an agreement between the bank and its customer governing the deposit account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the bankâs jurisdiction. (3) If neither paragraph (1) nor paragraph (2) applies and an agreement between the bank and its customer governing the deposit account expressly provides that the deposit account is maintained at an office in a particular jurisdiction, that jurisdiction is the bankâs jurisdiction. (4) If none of the preceding paragraphs applies, the bankâs jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the customerâs account is located. (5) If none of the preceding paragraphs applies, the bankâs jurisdiction is the jurisdiction in which the chief executive office of the bank is located.
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