Idaho State Statutes - Idaho Attorney Directory

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 28-9-106 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 subsections (3) and (4) of this
section, conflicting security interests held by secured parties each of which
has control under section 28-9-106 rank according to priority in time of:
(A) If the collateral is a security, obtaining control;
(B) If the collateral is a security entitlement carried in a securities
account and:
(i) if the secured party obtained control under section
28-8-106(4)(a), the secured party's becoming the person for which the
securities account is maintained;
(ii) if the secured party obtained control under section
28-8-106(4)(b), the securities intermediary's agreement to comply
with the secured party's entitlement orders with respect to security
entitlements carried or to be carried in the securities account; or
(iii) if the secured party obtained control through another person
under section 28-8-106(4)(c), the time on which priority would be
based under this paragraph if the other person were the secured
party; or
(C) If the collateral is a commodity contract carried with a commodity
intermediary, the satisfaction of the requirement for control specified in
section 28-9-106(b)(2) with respect to commodity contracts carried or to
be carried with the commodity intermediary.
(3) A security interest held by a securities intermediary in a security
entitlement or a securities account maintained with the securities
intermediary has priority over a conflicting security interest held by another
secured party.
(4) A security interest held by a commodity intermediary in a commodity
contract or a commodity account maintained with the commodity intermediary has
priority over a conflicting security interest held by another secured party.
(5) A security interest in a certificated security in registered form
which is perfected by taking delivery under section 28-9-313(a) and not by
control under section 28-9-314 has priority over a conflicting security
interest perfected by a method other than control.
(6) Conflicting security interests created by a broker, securities
intermediary or commodity intermediary which are perfected without control
under section 28-9-106 rank equally.
(7) In all other cases, priority among conflicting security interests in
investment property is governed by sections 28-9-322 and 28-9-323.

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