30-9A-327. Priority of security interests in deposit account, MCA

Montana Code Annotated 2019

TITLE 30. TRADE AND COMMERCE

CHAPTER 9A. UNIFORM COMMERCIAL CODE SECURED TRANSACTIONS

Part 3. Perfection and Priority

Priority Of Security Interests In Deposit Account

30-9A-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 30-9A-104 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 30-9A-314 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 30-9A-104(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; Sec. 30-9-347, MCA 1999; redes. 30-9A-327 by Code Commissioner, 2001.