2010 Georgia Code
TITLE 11 - COMMERCIAL CODE
ARTICLE 9 - SECURED TRANSACTIONS
PART 3 - PERFECTION AND PRIORITY
PART 3 - PRIORITY
§ 11-9-327 - Priority of security interests in deposit account
O.C.G.A.
11-9-327 (2010)
11-9-327. 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 Code Section
11-9-104 has priority over a conflicting security interest held by a secured party that does not have control;
(2) Except as otherwise provided in paragraphs (3) and (4) of this Code section, security interests perfected by control under Code Section
11-9-314 rank according to priority in time of obtaining control;
(3) Except as otherwise provided in paragraph (4) of this Code 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; and
(4) A security interest perfected by control under paragraph (3) of subsection (a) of Code Section
11-9-104 has priority over a security interest held by the bank with which the deposit account is maintained.
Graham Syfert - Jacksonville Lawyer