Wealth Mgmt Acct as Collateral-Control Agreement?

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Question:

Taking a Wealth Mgmt Account as collateral, would you use a Commercial Pledge Agreement and/or a Control Agreement and Acknowledgement of Security Interest as Collateral?

Answer:

For such a specific question, you need to review the situation with legal counsel. Your state's version of the UCC and the clauses in your bank's documents that you reference will all affect the proper documentation of such collateral.

First published on BankersOnline.com 2/20/12