Common Contracts
2 similar Deposit Account Control Agreement contracts
Sample language: Please copy sample language to your own business or entity organization stationery]Deposit Account Control Agreement • January 10th, 2023
This document is not a required form, but merely a suggested format for presenting the required provisions of an agreement between a debtor, a secured party and a bank as to the disposition of funds in a deposit account. It is permissible to use the depository bank’s form, or another third party’s form, of DACA, so long as such form complies with HUD Program Obligations, as well as all applicable laws and governmental healthcare insurance program rules. The information for which this sample format would provide the lender’s analysis and recommendations to HUD has been approved by the Office of Management and Budget under the Paperwork Reduction Act of 1995 and has been assigned OMB control number 2502-0605.
Sample language: Please copy sample language to your own business or entity organization stationery]Deposit Account Control Agreement • August 7th, 2020
This document is not a required form, but merely a suggested format for presenting the required provisions of an agreement between a debtor, a secured party and a bank as to the disposition of funds in a deposit account. It is permissible to use the depository bank’s form, or another third party’s form, of DACA, so long as such form complies with HUD Program Obligations, as well as all applicable laws and governmental healthcare insurance program rules. The information for which this sample format would provide the lender’s analysis and recommendations to HUD has been approved by the Office of Management and Budget under the Paperwork Reduction Act of 1995 and has been assigned OMB control number 2502-0605.
