{"data":{"id":"us-ak/as-45.29.329","jurisdiction":"us-ak","citation":"AS 45.29.329","heading":"Priority of security interests in letter-of-credit right.","body":"The following rules govern priority among conflicting security interests in the same letter-of-credit right:\n(1) a security interest held by a secured party having control of the letter-of-credit right under AS 45.29.107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control;\n(2) security interests perfected by control under AS 45.29.314 rank according to priority in time of obtaining control.","path":["Title 45. Trade and Commerce.","Chapter 29. Secured Transactions.","Article 3. Perfection and Priority."],"source_url":"https://www.akleg.gov/basis/statutes.asp#45.29.329","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:19:44Z","sha256":"a13df076acfaa41787dd1f59d15662d0d82177384106aa80614aeaccdf0beb24","source_id":"us-ak","stale":false,"prev":"us-ak/as-45.29.328","next":"us-ak/as-45.29.330"},"notice":"GroundRules: Original legal text. Not legal advice."}