Public-domain · open source
OpenJurist

AS 45.29.327

Priority of security interests in deposit account

Known as the Uniform Commercial Code

The act spans §§ 45–45 (615 sections).

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 AS 45.29.104 has priority over a conflicting security interest held by a secured party that does not have control;

(2) except as otherwise provided in (3) and (4) of this section, security interests perfected by control under AS 45.29.314 rank according to priority in time of obtaining control;

(3) except as otherwise provided in (4) of this 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;

(4) a security interest perfected by control under AS 45.29.104(a)(3) has priority over a security interest held by the bank with which the deposit account is maintained.

Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.