70A-9a-327. Priority of security interests in deposit account.
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70A-9a-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 Section 70A-9a-104 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 70A-9a-314 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 Subsection 70A-9a-104(1)(c) has priority over a security interest held by the bank with which the deposit account is maintained.
Enacted by Chapter 252 , 2000 General Session