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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 9A : Uniform Commercial Code

Article 009 : SECURED TRANSACTIONS

(Cite as: 9A V.S.A. § 9-327)
  • § 9-327. Priority of security interests in deposit account

    The following rules govern priority among conflicting security interests in the same deposit account:

    (1) A security interest held by a secured party having control of the deposit account under section 9- 104 of this title 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) of this section, security interests perfected by control under section 9- 314 of this title rank according to priority in time of obtaining control.

    (3) Except as otherwise provided in subdivision (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 subdivision 9- 104(a)(3) of this title has priority over a security interest held by the bank with which the deposit account is maintained. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)