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Me. Rev. Stat. tit. 11, § 9-1327

Priority of security interests in deposit account

Known as the Uniform Commercial Code

The act spans §§ 2-101 to 9-1709 (548 sections).

PL 1999, c. 699, §A2 (NEW)

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 section 9‑1104 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 section 9‑1314 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 section 9‑1104, subsection (1), paragraph (c) has priority over a security interest held by the bank with which the deposit account is maintained.

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