The following rules govern priority among conflicting security interests in the same deposit account:

1. (1) A security interest held by a secured party having control of the deposit account under ORS 79A.1040 has priority over a conflicting security interest held by a secured party that does not have control.
2. (2) Except as otherwise provided in subsections (3) and (4) of this section, security interests perfected by control under ORS 79A.3140 rank according to priority in time of obtaining control.
3. (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. (4) A security interest perfected by control under ORS 79A.1040 (1)(c) has priority over a security interest held by the bank with which the deposit account is maintained.

[Formerly 79.0327]