11-9-327. Priority of security interests in deposit account.
151 words·~1 min read·
/ga/title-11-commercial-code/subpart-3-priority/11-9-327·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The following rules govern priority among conflicting security interests in the same deposit account:
A security interest held by a secured party having control of the deposit account under Code Section 11-9-104 has priority over a conflicting security interest held by a secured party that does not have control;
Except as otherwise provided in paragraphs
(3)and
(4)of this Code section, security interests perfected by control under Code Section 11-9-314 rank according to priority in time of obtaining control;
Except as otherwise provided in paragraph
(4)of this Code 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; and
A security interest perfected by control under paragraph
(3)of subsection
(a)of Code Section 11-9-104 has priority over a security interest held by the bank with which the deposit account is maintained.