2010 New York Code
UCC - Uniform Commercial Code
Article 9 - SECURED TRANSACTIONS
Part 3 - PERFECTION AND PRIORITY
Sub Part 3 - (9-317 - 9-339) PRIORITY
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.

Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.