GroundRules
Utah Code § 70A-9a-329: Priority of security interests in letter-of-credit right.
Where this section sits in the code
- Title 70A Uniform Commercial Code
- Chapter 70A-9a Uniform Commercial Code - Secured Transactions
- Part 70A-9a-3 Perfection and Priority
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.
Collected 2026-09-03T11:34:34Z. Source file · JSON