LexisNexis (March 16, 2023, 3:20 PM EDT) -- A deposit account can be closed for whatever reason, so long as the customer is given reasonable advance notice. It should not be necessary to show that the decision was based on some egregious behavior of the depositor. By pulling the plug without advance notice, the bank risks a lawsuit by the depositor alleging wrongful dishonor of the check. Under Article 4 of the UCC, a successful wrongful dishonor claim can include consequential damages for killed deals and loss of customer goodwill, and it could even include punitive damages. The best way to handle the matter is to cover it squarely in the deposit agreement. Let’s take a look at the relevant case law and suggested model deposit agreement provisions....