{"data":{"id":"us-me/11-m.r.s.-9-1329","jurisdiction":"us-me","citation":"11 M.R.S. §9-1329","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 9‑1107 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 9‑1314 rank according to priority in time of obtaining control.","path":["TITLE 11: UNIFORM COMMERCIAL CODE","PART 3: PERFECTION AND PRIORITY"],"source_url":"https://legislature.maine.gov/statutes/11/title11sec9-1329.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:25Z","sha256":"dd2df9e78f0222b4a50bf87a5295a8b82af1ef7c225596f989b09a56c55635f3","source_id":"us-me","stale":false,"prev":"us-me/11-m.r.s.-9-1328","next":"us-me/11-m.r.s.-9-1330"},"notice":"GroundRules: Original legal text. Not legal advice."}