12A:9-327 Priority of security interests in deposit account.
12A:9-327. Priority of Security Interests in Deposit Account.
The following rules govern priority among conflicting security interests in the same deposit account:
(1)A security interest held by a secured party having control of the deposit account under 12A:9-104 has priority over a conflicting security interest held by a secured party that does not have control.
(2)Except as otherwise provided in paragraphs (3) and (4), security interests perfected by control under 12A:9-314 rank according to priority in time of obtaining control.
(3)Except as otherwise provided in paragraph (4), a security interest held by the bank with which the deposit account is maintained has priority over a conflicting security interest held by another secured party.
(4)A security interest perfected by control under 12A:9-104 (a) (3) has priority over a security interest held by the bank with which the deposit account is maintained.
L.2001, c.117, s.1; amended 2001, c.386, s.43.
Section: Previous 12a-9-320 12a-9-321 12a-9-322 12a-9-323 12a-9-324 12a-9-325 12a-9-326 12a-9-327 12a-9-328 12a-9-329 12a-9-330 12a-9-331 12a-9-332 12a-9-333 12a-9-334 Next
Last modified: October 11, 2016