(810 ILCS 5/9-327)
Sec. 9-327.
Priority of security interests in deposit account.
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 9-104 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 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
9-104(a)(3) has priority over a security interest held by the bank with which
the
deposit account is maintained.
(Source: P.A. 91-893, eff. 7-1-01.)
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