A security interest in a controllable account, controllable electronic record, or controllable payment intangible held by a secured party having control of the account, electronic record, or payment intangible has priority over a conflicting security interest held by a secured party that does not have control.
N.D. Cent. Code § 41-09-46.1
(9-326A) Priority of security interest in controllable account, controllable electronic record, and controllable payment intangible
Known as the Uniform Commercial Code
The act spans §§ 41-01-01 to 41-12-07 (597 sections).
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.