30-9-347. (Effective July 1, 2001) 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 30-9-124 has priority over a conflicting security interest held by a secured party that does not have control.
     (2) Except as otherwise provided in subsections (3) and (4), security interests perfected by control under 30-9-334 rank according to priority in time of obtaining control.
     (3) Except as otherwise provided in subsection (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 30-9-124(1)(c) has priority over a security interest held by the bank with which the deposit account is maintained.

     History: En. Sec. 46, Ch. 305, L. 1999.