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#53466 - 01/10/03 04:05 PM Timing of UCC 4A Disclosures

Is there a requirement for business accounts, we are writing our ACH policy. So disclosure need to be given at account opening, and then annually thereafter or does anyone know where I can find this information. I have seached the UCC site but saw no reference to timing. Thank you.

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Operations Compliance
#53467 - 01/11/03 12:08 AM Re: Timing of UCC 4A Disclosures
SJB Offline
Diamond Poster
Joined: Jun 2002
Posts: 1,210
We put it in our commercial ACH agreements and deposit account agreements. I am not aware of any regular re-disclosure requirements.
My opinions are not legal advice and are worth what you paid for them.

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#53468 - 01/13/03 06:14 PM Re: Timing of UCC 4A Disclosures
Just Jean Offline
Platinum Poster
Joined: Feb 2002
Posts: 582
Check with your ACH payments association for sample policies. We do a one-time disclosure when accounts are open.

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