The following rules govern priority among conflicting security interests in the same deposit account:
(A) A security interest held by a secured party having control of the deposit account under section 1309.104 of the Revised Code has priority over a conflicting security interest held by a secured party that does not have control.
(B) Except as otherwise provided in divisions (C) and (D) of this section, security interests perfected by control under section 1309.314 of the Revised Code rank according to priority in time of obtaining control.
(C) Except as otherwise provided in division (D) of this section, 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.
(D) A security interest perfected by control under division (A)(3) of section 1309.104 of the Revised Code has priority over a security interest held by the bank with which the deposit account is maintained.
Effective Date: 07-01-2001
Section: Previous 1309.320 1309.321 1309.322 1309.323 1309.324 1309.325 1309.326 1309.327 1309.328 1309.329 1309.330 1309.331 1309.332 1309.333 1309.334 NextLast modified: October 10, 2016