400.9-327. Priority of secured interests in deposit account. - Missouri Statutes

Priority of secured interests in deposit account.

400.9-327. The following rules govern priority among conflictingsecurity interests in the same deposit account:

(1) A security interest held by a secured party having control of thedeposit account under section 400.9-104 has priority over a conflictingsecurity interest held by a secured party that does not have control.

(2) Except as otherwise provided in paragraphs (3) and (4), securityinterests perfected by control under section 400.9-314 rank according topriority in time of obtaining control.

(3) Except as otherwise provided in paragraph (4), a securityinterest held by the bank with which the deposit account is maintained haspriority over a conflicting security interest held by another securedparty.

(4) A security interest perfected by control under section400.9-104(a)(3) has priority over a security interest held by the bank withwhich the deposit account is maintained.

(L. 2001 S.B. 288)

Effective 7-1-01