{"data":{"id":"us-mi/mich.-comp.-laws-440.9329","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.9329","heading":"Priority of security interests in letter-of-credit right.","body":"Sec. 9329.\n\nThe following rules govern priority among conflicting security interests in the same letter-of-credit right:\n\nA security interest held by a secured party having control of the letter-of-credit right under section 9107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.\n\nSecurity interests perfected by control under section 9314 rank according to priority in time of obtaining control.","path":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-9329","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"ffffb18cea0bd0cf4e061c3940946a1a0e9956e4daa22753d61b19d45005d21d","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.9328","next":"us-mi/mich.-comp.-laws-440.9330"},"notice":"GroundRules: Original legal text. Not legal advice."}