California Commercial Code

§ 9328

COM § 9328 Effective Jan 1, 2000Div. 9 · Ch. 3

Statute text

The following rules govern priority among conflicting security interests in the same investment property:

(1)A security interest held by a secured party having control of investment property under Section 9106 has priority over a security interest held by a secured party that does not have control of the investment property.

(2)Except as otherwise provided in subdivisions (3) and (4), conflicting security interests held by secured parties each of which has control under Section 9106 rank according to priority in time of one of the following:

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Legislative history

Added by Stats. 1999, Ch. 991, Sec. 35. Effective January 1, 2000. Operative July 1, 2001, by Sec. 75 of Ch. 991 and Section 9701.