554.9327 Priority of security interests in deposit account.
153 words·~1 min read·
/ia/chapter-554-uniform-commercial-code/554-9327A 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:
1. A security interest held by a secured party having control of the deposit account under section 554.9104 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, security interests perfected by control under section 554.9314 rank according to priority in time of obtaining control.
3. Except as otherwise provided in subsection 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 section 554.9104, subsection 1, paragraph “c”, has priority over a security interest held by the bank with which the deposit account is maintained.
2000 Acts, ch 1149, §47, 187
Referred to in §554.9322, 554.9324, 554.9330