GroundRules
COM § 9329
Where this section sits in the code
- Commercial Code - COM
- DIVISION 9. SECURED TRANSACTIONS [9101. - 9907.]
- CHAPTER 3. Perfection and Priority [9301. - 9342.]
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 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 9314 rank according to priority in time of obtaining control.
Collected 2026-09-14T05:56:33Z. Source file · JSON