§ 9-329. Priority of security interests in letter-of-credit

Latest version.

   The following rules govern priority among conflicting security interests in the same letter-of-credit right:

   (1) A security interest held by a secured party having control of the letter-of-credit right under § 9-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.

   (2) Security interests perfected by control under § 9-314 rank according to priority in time of obtaining control.

HISTORY: 1999, ch. 282, § 2.

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');