409.327

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

409.327 Priority of security interests in deposit account. The following rules govern priority among conflicting security interests in the same deposit account:

409.327(1)

(1) Control by secured party. A security interest held by a secured party having control of the deposit account under § 409.104 has priority over a conflicting security interest held by a secured party that does not have control.

409.327(2)

(2) Priority in time of control. Except as otherwise provided in subs. (3) and (4), security interests perfected by control under § 409.314 rank according to priority in time of obtaining control.

409.327(3)

(3) Priority of bank regarding deposit account. Except as otherwise provided in sub. (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.

409.327(4)

(4) Priority over bank regarding deposit account. A security interest perfected by control under § 409.104 (1)(c) has priority over a security interest held by the bank with which the deposit account is maintained.