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§ 57A-9-327 Priority among conflicting security interests in same deposit account.

SD Codified L § 57A-9-327 (2019) (N/A)
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57A-9-327. Priority among conflicting security interests in same 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 § 57A-9-104 has priority over a conflicting security interest held by a secured party that does not have control.

(2) Except as otherwise provided in paragraphs (3) and (4), security interests perfected by control under § 57A-9-314 rank according to priority in time of obtaining control.

(3) Except as otherwise provided in paragraph (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 § 57A-9-104(a)(3) has priority over a security interest held by the bank with which the deposit account is maintained.Source: SL 2000, ch 231.

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