N.Y. Uniform Commercial Code Law Section 9-327
Priority of Security Interests in Deposit Account


Section 9--327. Priority of Security Interests in Deposit Account. The following rules govern priority among conflicting security interests in the same deposit account:

(a)

A security interest held by a secured party having control of the deposit account under Section 9--104 has priority over a conflicting security interest held by a secured party that does not have control.

(b)

Except as otherwise provided in subsections (c) and (d), security interests perfected by control under Section 9--314 rank according to priority in time of obtaining control.

(c)

Except as otherwise provided in subsection (d), 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.

(d)

A security interest perfected by control under Section 9--104(a)(3) has priority over a security interest held by the bank with which the deposit account is maintained.

Source: Section 9-327 — Priority of Security Interests in Deposit Account, https://www.­nysenate.­gov/legislation/laws/UCC/9-327 (updated Sep. 22, 2014; accessed May 11, 2024).

Accessed:
May 11, 2024

Last modified:
Sep. 22, 2014

§ 9-327’s source at nysenate​.gov

Link Style