{"data":{"id":"us-al/ala.-code-7-9a-329","jurisdiction":"us-al","citation":"Ala. Code § 7-9A-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 Section 7-9A-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.\n(2) Security interests perfected by control under Section 7-9A-314 rank according to priority in time of obtaining control.","path":["Title 7 Commercial Code.","Article 9A Secured Transactions.","Part 3 Perfection and Priority.","Division 3 Priority."],"source_url":"https://alison.legislature.state.al.us/code-of-alabama?section=7-9A-329","current_through":"Act 2026-611","vintage":"","retrieved_at":"2026-09-03T14:01:52Z","sha256":"5f450131e64584e5dfee8399984c6ea5a19f70463d7b27c4fc60083fe8a075cd","source_id":"us-al","stale":false,"prev":"us-al/ala.-code-7-9a-328","next":"us-al/ala.-code-7-9a-330"},"notice":"GroundRules: Original legal text. Not legal advice."}