Connecticut General Statutes 42a-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 Connecticut General Statutes 42a-9-327
- another: may extend and be applied to communities, companies, corporations, public or private, limited liability companies, societies and associations. See Connecticut General Statutes 1-1
- Deposit account: includes a share account of a savings and loan association. See Connecticut General Statutes 1-1
(1) A security interest held by a secured party having control of the deposit account under § 42a-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 subdivisions (3) and (4), security interests perfected by control under § 42a-9-314 rank according to priority in time of obtaining control.
(3) Except as otherwise provided in subdivision (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 subdivision (3) of subsection (a) of § 42a-9-104 has priority over a security interest held by the bank with which the deposit account is maintained.