Legislation

* § 680-c. Variation by agreement or amendment. 1. The effect of this
section and sections six hundred eighty-a, six hundred eighty-b, six
hundred eighty-d, six hundred eighty-e, six hundred eighty-g, six
hundred eighty-h, six hundred eighty-i, six hundred eighty-j and six
hundred eighty-m of this article shall not be varied by agreement,
except as provided in such sections. Subject to subdivision two of this
section, the effect of sections six hundred eighty-f, six hundred
eighty-k and six hundred eighty-l of this article may be varied by
agreement.

2. A provision in an account agreement or other record that
substantially excuses liability or substantially limits remedies for
failure to perform an obligation under this article is not sufficient to
vary the effect of a provision of this article.

3. If a beneficiary is a party to an account agreement, the bank and
the depositor may amend the agreement without the consent of the
beneficiary only if the agreement expressly permits the amendment.

4. If a beneficiary is not a party to an account agreement and the
bank and the depositor know the beneficiary has knowledge of the
agreement's terms, the bank and the depositor may amend the agreement
without the consent of the beneficiary only if the amendment does not
adversely and materially affect a payment right of the beneficiary.

5. If a beneficiary is not a party to an account agreement and the
bank and the depositor do not know whether the beneficiary has knowledge
of the agreement's terms, the bank and the depositor may amend the
agreement without the consent of the beneficiary only if the amendment
is made in good faith.

* NB Effective January 1, 2026