Uniform Commercial Code (UCC): Key articles include Article 8 (Investment Securities) and Article 9 (Secured Transactions), which are crucial for perfection of security interests and control arrangements in blocked account agreements
Federal Banking Regulations: Encompasses regulations from Federal Reserve, Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corporation (FDIC) requirements for account control and banking operations
Bank Secrecy Act (BSA): Contains anti-money laundering provisions and Know Your Customer (KYC) requirements that must be adhered to in account management
USA PATRIOT Act: Includes customer identification requirements and anti-terrorism provisions that affect account opening and monitoring procedures
Securities Exchange Act of 1934: Relevant when the blocked account contains securities, governing the handling and transfer of securities within the account
Electronic Funds Transfer Act: Regulates electronic transfers and payments, which is relevant for any electronic transactions involving the blocked account
State-Specific Banking Laws: Various state-level banking regulations that may affect account control agreements depending on the state where the account is located
Bankruptcy Code: Federal bankruptcy provisions that ensure the enforceability of the account control agreement in bankruptcy scenarios
Federal Reserve Regulation CC: Governs funds availability and collection of checks, affecting timing and availability of funds in the blocked account
State UCC Variations: State-specific modifications to the Uniform Commercial Code that may affect how the agreement is structured and enforced in different jurisdictions
