Title 70A Chapter 9a Section 329
| << Previous Section (70A-9a-328) | Download Options: PDF | RTF | WordPerfect | Next Section (70A-9a-330) >> |
Uniform Commercial Code | |
Uniform Commercial Code - Secured Transactions | |
Section 329 | Priority of security interests in letter-of-credit right. |
|
70A-9a-329. 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 70A-9a-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 Section 70A-9a-314 rank according to priority in time of obtaining control. Enacted by Chapter 252, 2000 General Session | |
| << Previous Section (70A-9a-328) | Download Options: PDF | RTF | WordPerfect | Next Section (70A-9a-330) >> |