TITLE 11 COMMERCIAL CODE

Section 9. Secured Transactions, 11-9-101 through 11-9-809.

ARTICLE 9 SECURED TRANSACTIONS

PART 3 PRIORITY

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.

(Code 1981, §11-9-327, enacted by Ga. L. 2001, p. 362, § 1.)