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Miss. Code Ann. § 75-9-327

Priority of security interests in deposit account

Derived from former 1972 Code § 75-9-115 [Laws, 1996, ch. 468, § 59, eff from and after July 1, 1996] and enacted by Laws, 2001, ch. 495, § 1, eff from and after January 1, 2002.

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 75-9-104 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), security interests perfected by control under Section 75-9-314 rank according to priority in time of obtaining control.

(3) Except as otherwise provided in paragraph (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 75-9-104(a)(3) has priority over a security interest held by the bank with which the deposit account is maintained.

Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.