{"data":{"id":"us-mi/mich.-comp.-laws-440.9304","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.9304","heading":"Law governing perfection and priority of security interests in deposit accounts.","body":"Sec. 9304.\n\nThe local law of a bank's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank.\n\nThe following rules determine a bank's jurisdiction for purposes of this part:\n\nIf an agreement between the bank and the debtor governing the deposit account expressly provides that a particular jurisdiction is the bank's jurisdiction for the purpose of this part, this article, or this act, that jurisdiction is the bank's jurisdiction.\n\nIf subdivision (a) 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 bank's jurisdiction.\n\nIf neither subdivision (a) nor (b) 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 bank's jurisdiction.\n\nIf none of the preceding subdivisions apply, the bank's jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the customer's account is located.\n\nIf none of the preceding subdivisions apply, the bank's jurisdiction is the jurisdiction in which the chief executive office of the bank is located.","path":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-9304","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"af892e780dc84db3b1544525ca2bd2d44676c67b8bedfcec99c81867f6c1d015","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.9303","next":"us-mi/mich.-comp.-laws-440.9305"},"notice":"GroundRules: Original legal text. Not legal advice."}