{"data":{"id":"us-ar/ark.-code-ann.-4-9-329","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-9-329","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 § 4-9-107 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 § 4-9-314 rank according to priority in time of obtaining control.","path":["Title 4 Business and Commercial Law","Subtitle 1. Uniform Commercial Code","Chapter 9 Secured Transactions","Part 3 — Perfection and Priority","Subpart 3 Priority"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.04.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T21:07:03Z","sha256":"85e1a2560a45c7f9bb48a0f933303cde5c456c8414d84c5815b2bbf61d7ee269","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-9-328","next":"us-ar/ark.-code-ann.-4-9-330"},"notice":"GroundRules: Original legal text. Not legal advice."}