                                 CODE OF VIRGINIA

PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNT (§ 8.9A-327)

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 &#xA7; 8.9A-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 &#xA7; 8.9A-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 &#xA7; 8.9A-104 (a) (3) has
priority over a security interest held by the bank with which the deposit
account is maintained.

HISTORY: 1996, c. 216, § 8.9-115; 2000, c. 1007.