§ 6A-9-328 Priority of security interestsin investment property. – The following rules govern priority among conflicting security interests in thesame investment property:
(1) A security interest held by a secured party havingcontrol of investment property under § 6A-9-106 has priority over asecurity interest held by a secured party that does not have control of theinvestment property.
(2) Except as otherwise provided in paragraphs (3) and (4),conflicting security interests held by secured parties each of which hascontrol under § 6A-9-106 rank according to priority in time of:
(i) If the collateral is a security, obtaining control;
(ii) If the collateral is a security entitlement carried in asecurities account and:
(A) If the secured party obtained control under §6A-8-106(d)(1), the secured party's becoming the person for which thesecurities account is maintained;
(B) If the secured party obtained control under §6A-8-106(d)(2), the securities intermediary's agreement to comply with thesecured party's entitlement orders with respect to security entitlementscarried or to be carried in the securities account; or
(C) If the secured party obtained control through anotherperson under § 6A-8-106(d)(3), the time on which priority would be basedunder this paragraph if the other person were the secured party; or
(iii) If the collateral is a commodity contract carried witha commodity intermediary, the satisfaction of the requirement for controlspecified in § 6A-9-106(b)(2) with respect to commodity contracts carriedor to be carried with the commodity intermediary.
(3) A security interest held by a securities intermediary ina security entitlement or a securities account maintained with the securitiesintermediary has priority over a conflicting security interest held by anothersecured party.
(4) A security interest held by a commodity intermediary in acommodity contract or a commodity account maintained with the commodityintermediary has priority over a conflicting security interest held by anothersecured party.
(5) A security interest in a certificated security inregistered form which is perfected by taking delivery under § 6A-9-313(a)and not by control under § 6A-9-314 has priority over a conflictingsecurity interest perfected by a method other than control.
(6) Conflicting security interests created by a broker,securities intermediary, or commodity intermediary which are perfected withoutcontrol under § 6A-9-106 rank equally.
(7) In all other cases, priority among conflicting securityinterests in investment property is governed by §§ 6A-9-322 and6A-9-323.
§ 6A-9-328 Priority of security interestsin investment property. – The following rules govern priority among conflicting security interests in thesame investment property:
(1) A security interest held by a secured party havingcontrol of investment property under § 6A-9-106 has priority over asecurity interest held by a secured party that does not have control of theinvestment property.
(2) Except as otherwise provided in paragraphs (3) and (4),conflicting security interests held by secured parties each of which hascontrol under § 6A-9-106 rank according to priority in time of:
(i) If the collateral is a security, obtaining control;
(ii) If the collateral is a security entitlement carried in asecurities account and:
(A) If the secured party obtained control under §6A-8-106(d)(1), the secured party's becoming the person for which thesecurities account is maintained;
(B) If the secured party obtained control under §6A-8-106(d)(2), the securities intermediary's agreement to comply with thesecured party's entitlement orders with respect to security entitlementscarried or to be carried in the securities account; or
(C) If the secured party obtained control through anotherperson under § 6A-8-106(d)(3), the time on which priority would be basedunder this paragraph if the other person were the secured party; or
(iii) If the collateral is a commodity contract carried witha commodity intermediary, the satisfaction of the requirement for controlspecified in § 6A-9-106(b)(2) with respect to commodity contracts carriedor to be carried with the commodity intermediary.
(3) A security interest held by a securities intermediary ina security entitlement or a securities account maintained with the securitiesintermediary has priority over a conflicting security interest held by anothersecured party.
(4) A security interest held by a commodity intermediary in acommodity contract or a commodity account maintained with the commodityintermediary has priority over a conflicting security interest held by anothersecured party.
(5) A security interest in a certificated security inregistered form which is perfected by taking delivery under § 6A-9-313(a)and not by control under § 6A-9-314 has priority over a conflictingsecurity interest perfected by a method other than control.
(6) Conflicting security interests created by a broker,securities intermediary, or commodity intermediary which are perfected withoutcontrol under § 6A-9-106 rank equally.
(7) In all other cases, priority among conflicting securityinterests in investment property is governed by §§ 6A-9-322 and6A-9-323.
§ 6A-9-328 Priority of security interestsin investment property. – The following rules govern priority among conflicting security interests in thesame investment property:
(1) A security interest held by a secured party havingcontrol of investment property under § 6A-9-106 has priority over asecurity interest held by a secured party that does not have control of theinvestment property.
(2) Except as otherwise provided in paragraphs (3) and (4),conflicting security interests held by secured parties each of which hascontrol under § 6A-9-106 rank according to priority in time of:
(i) If the collateral is a security, obtaining control;
(ii) If the collateral is a security entitlement carried in asecurities account and:
(A) If the secured party obtained control under §6A-8-106(d)(1), the secured party's becoming the person for which thesecurities account is maintained;
(B) If the secured party obtained control under §6A-8-106(d)(2), the securities intermediary's agreement to comply with thesecured party's entitlement orders with respect to security entitlementscarried or to be carried in the securities account; or
(C) If the secured party obtained control through anotherperson under § 6A-8-106(d)(3), the time on which priority would be basedunder this paragraph if the other person were the secured party; or
(iii) If the collateral is a commodity contract carried witha commodity intermediary, the satisfaction of the requirement for controlspecified in § 6A-9-106(b)(2) with respect to commodity contracts carriedor to be carried with the commodity intermediary.
(3) A security interest held by a securities intermediary ina security entitlement or a securities account maintained with the securitiesintermediary has priority over a conflicting security interest held by anothersecured party.
(4) A security interest held by a commodity intermediary in acommodity contract or a commodity account maintained with the commodityintermediary has priority over a conflicting security interest held by anothersecured party.
(5) A security interest in a certificated security inregistered form which is perfected by taking delivery under § 6A-9-313(a)and not by control under § 6A-9-314 has priority over a conflictingsecurity interest perfected by a method other than control.
(6) Conflicting security interests created by a broker,securities intermediary, or commodity intermediary which are perfected withoutcontrol under § 6A-9-106 rank equally.
(7) In all other cases, priority among conflicting securityinterests in investment property is governed by §§ 6A-9-322 and6A-9-323.
