§9-1327.__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 9-1104 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 9-1314 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 9- 1104, subsection (1), paragraph (c) has priority over a security interest held by the bank with which the deposit account is maintained.

Official Comment

1. Source. New; derived from former Section 9-115(5).

2. Scope of This Section. This section contains the rules governing the priority of conflicting security interests in deposit accounts. It overrides conflicting priority rules. See Sections 9-322(f)(1) [Maine cite section 9-1322, subsection (6), paragraph (a)], 9-324(a), (b), (d), (f) [Maine cite section 9- 1324, subsections (1), (2), (4) and (6)]. This section does not apply to accounts evidenced by an instrument (e.g., certain certificates of deposit), which by definition are not "deposit accounts."

3. Control. Under paragraph (1) [Maine cite subsection (1)], security interests perfected by control (Sections 9-314, 9-104 [Maine cite section 9-1314, 9-1104]) take priority over those perfected otherwise, e.g., as identifiable cash proceeds under Section 9-315 [Maine cite section 9-1315]. Secured parties for whom the deposit account is an integral part of the credit decision will, at a minimum, insist upon the right to immediate