New Mexico § 55-9-327 Priority of security interests in deposit account

New Mexico Statutes

§ 55-9-327 — Priority of security interests in deposit account

New Mexico·Ch. 55 Uniform Commercial Code·Art. 9 Secured Transactions

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 55-9-104 NMSA 1978 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) of this section, security interests perfected by control under Section 55-9-314 NMSA 1978 rank according to priority in time of obtaining control.

(3)Except as otherwise provided in Subsection (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 co

Free access — add to your briefcase to read the full text and ask questions with AI

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 55-9-104 NMSA 1978 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) of this section, security interests perfected by control under Section 55-9-314 NMSA 1978 rank according to priority in time of obtaining control. (3) Except as otherwise provided in Subsection (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 Paragraph (3) of Subsection (a) of Section 55-9-104 NMSA 1978 has priority over a security interest held by the bank with which the deposit account is maintained.

New Mexico § 55-9-327 (Priority of security interests in deposit account) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.