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 ORS 79.0104 has priority over a conflicting security interest held by a secured party that does not have control.
(2) Except as otherwise provided in subsections (3) and (4) of this section, security interests perfected by control under ORS 79.0314 rank according to priority in time of obtaining control.
(3) Except as otherwise provided in subsection (4) 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.
(4) A security interest perfected by control under ORS 79.0104 (1)(c) has priority over a security interest held by the bank with which the deposit account is maintained. [2001 c.445 §47]
Section: Previous 79.0320 79.0321 79.0322 79.0323 79.0324 79.0325 79.0326 79.0327 79.0328 79.0329 79.0330 79.0331 79.0332 79.0333 79.0334 NextLast modified: August 7, 2008