47-9329. Priority of security interests in letter-of-credit right
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 section 47-9107 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 section 47-9314 rank according to priority in time of obtaining control.
Section: Previous 47-9322 47-9323 47-9324 47-9325 47-9326 47-9327 47-9328 47-9329 47-9330 47-9331 47-9332 47-9333 47-9334 47-9335 47-9336 NextLast modified: October 13, 2016