Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 9. · Article 9. SECURED TRANSACTIONS · Part 3. PERFECTION AND PRIORITY

11-9-327. Priority of security interests in deposit account.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

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.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

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

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, page 823; merge action: carried; file SHA-256 ad397fccbf21.

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