(1) A security interest in funds credited to a deposit account that is made effective against a third party by the secured creditor becoming the account holder with respect to the deposit account has priority over a competing security interest that is made effective against a third party by another method.
(2) A security interest in funds credited to a deposit account with respect to which the secured creditor is the financial institution at which the account is maintained has priority over a competing security interest made effective against third parties by any method, except a security interest that is made effective against third parties by the secured creditor becoming the account holder with respect to the deposit account.
(3) A security interest in funds credited to a deposit account that is made effective against a third party, by a control agreement among the secured creditor, the financial institution at which the deposit account is maintained and the grantor, has priority over a competing security interest, except —
(a) a security interest of the financial institution at which the account is maintained; or
(b) a security interest that is made effective against a third party by the secured creditor becoming the account holder with respect to the deposit account.
(4) The priority among competing security interests in funds credited to a deposit account that are made effective against third parties by the conclusion of control agreements is determined by the order in which the control agreements were entered into.
(5) The right of a financial institution under another law to set-off obligations owed to it by the grantor against the right of the grantor to payment of funds credited to a deposit account maintained with the financial institution has priority as against a security interest in the right to payment of funds credited to the deposit account, except a security interest that is made effective against third parties by the secured creditor becoming the account holder.
(6) A transferee of funds from a deposit account pursuant to a transfer initiated or authorized by the grantor acquires his, her or its rights free of a security interest in funds credited to the deposit account, unless the transferee has knowledge that the transfer violates the rights of the secured creditor under the security agreement.