Maryland Commercial Law Section 9-327

Article - Commercial Law

§ 9-327.

      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.



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