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Session Laws, 1999
Volume 796, Page 2086   View pdf image
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(B) IF MORE THAN ONE SECURITY INTEREST IN THE SAME COLLATERAL IS
SUBORDINATE UNDER SUBSECTION (A), THE OTHER PROVISIONS OF THIS SUBTITLE
DETERMINE THE PRIORITY AMONG THE SUBORDINATED SECURITY INTERESTS.

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 § 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 § 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 § 9-104(A)(3)
HAS PRIORITY OVER A SECURITY INTEREST HELD BY THE BANK WITH WHICH THE
DEPOSIT ACCOUNT IS MAINTAINED.

9-328. PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY.

THE FOLLOWING RULES GOVERN PRIORITY AMONG CONFLICTING SECURITY
INTERESTS IN THE SAME INVESTMENT PROPERTY:

(1) A SECURITY INTEREST HELD BY A SECURED PARTY HAVING
CONTROL OF INVESTMENT' PROPERTY UNDER § 9-106 HAS PRIORITY OVER A
SECURITY INTEREST HELD BY A SECURED PARTY THAT DOES NOT HAVE CONTROL OF
THE INVESTMENT PROPERTY.

(2) EXCEPT AS OTHERWISE PROVIDED IN PARAGRAPHS (3) AND (4),
CONFLICTING SECURITY INTERESTS HELD BY SECURED PARTIES EACH OF WHICH
HAS CONTROL UNDER § 9-106 RANK ACCORDING TO PRIORITY IN TIME OF:

(A) IF THE COLLATERAL IS A SECURITY, OBTAINING CONTROL;

(B) IF THE COLLATERAL IS A SECURITY ENTITLEMENT CARRIED IN
A SECURITIES ACCOUNT AND:

(I) IF THE SECURED PARTY OBTAINED CONTROL UNDER §
8-106(D)(1) OF THIS ARTICLE, THE SECURED PARTY'S BECOMING THE PERSON FOR
WHICH THE SECURITIES ACCOUNT IS MAINTAINED;

(II) IF THE SECURED PARTY OBTAINED CONTROL UNDER §
8-106(D)(2) OF THIS ARTICLE, THE SECURITIES INTERMEDIARY'S AGREEMENT TO

 

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Session Laws, 1999
Volume 796, Page 2086   View pdf image
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