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<section article="gcl" article_name="Commercial Law" number="9-304" title_number="9" title_name="Secured Transactions" subtitle_number="3" subtitle_name="Perfection and Priority">
  <level label="a">
    <text>The local law of a bank’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank.</text>
  </level>
  <level label="b">
    <text>The following rules determine a bank’s jurisdiction for purposes of this subtitle:</text>
    <level label="1">
      <text>If an agreement between the bank and its customer governing the deposit account expressly provides that a particular jurisdiction is the bank’s jurisdiction for purposes of this subtitle, this title, or Titles 1 through 10 of this article, that jurisdiction is the bank’s jurisdiction.</text>
    </level>
    <level label="2">
      <text>If paragraph (1) does not apply and an agreement between the bank and its customer governing the deposit account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the bank’s jurisdiction.</text>
    </level>
    <level label="3">
      <text>If neither paragraph (1) nor paragraph (2) applies and an agreement between the bank and its customer governing the deposit account expressly provides that the deposit account is maintained at an office in a particular jurisdiction, that jurisdiction is the bank’s jurisdiction.</text>
    </level>
    <level label="4">
      <text>If none of the preceding paragraphs applies, the bank’s jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the customer’s account is located.</text>
    </level>
    <level label="5">
      <text>If none of the preceding paragraphs applies, the bank’s jurisdiction is the jurisdiction in which the chief executive office of the bank is located.</text>
    </level>
  </level>
</section>
