Oregon Statutes 79.0327 – UCC 9-327. Priority of security interests in deposit account
The following rules govern priority among conflicting security interests in the same deposit account:
Terms Used In Oregon Statutes 79.0327
- Bank: means an organization that is engaged in the business of banking. See Oregon Statutes 79.0102
- Deposit account: means a demand, time, savings, passbook or similar account maintained with a bank. See Oregon Statutes 79.0102
(1) A security interest held by a secured party having control of the deposit account under ORS § 79.0104 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) of this section, security interests perfected by control under ORS § 79.0314 rank according to priority in time of obtaining control.
(3) Except as otherwise provided in subsection (4) of this section, 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 ORS § 79.0104 (1)(c) has priority over a security interest held by the bank with which the deposit account is maintained. [2001 c.445 § 47]