The following govern priority among conflicting security interests in the same letter-of-credit right:
(A) A security interest held by a secured party having control of the letter-of-credit right under section 1309.107 of the Revised Code has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.
(B) Security interests perfected by control under section 1309.314 of the Revised Code rank according to priority in time of obtaining control.
Effective Date: 07-01-2001
Section: Previous 1309.322 1309.323 1309.324 1309.325 1309.326 1309.327 1309.328 1309.329 1309.330 1309.331 1309.332 1309.333 1309.334 1309.335 1309.336 NextLast modified: October 10, 2016