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§ 9-327 Priority of security interests in deposit account

9 V.S.A. § 9-327 (N/A)
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§ 9-327. 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 9-104 of this title has priority over a conflicting security interest held by a secured party that does not have control.

(2) Except as otherwise provided in subdivisions (3) and (4) of this section, security interests perfected by control under section 9-314 of this title rank according to priority in time of obtaining control.

(3) Except as otherwise provided in subdivision (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 subdivision 9-104(a)(3) of this title has priority over a security interest held by the bank with which the deposit account is maintained. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)

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