{"data":{"id":"us-nd/n.d.-cent.-code-41-09-49","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 41-09-49","heading":"(9-329) 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:\n1.A security interest held by a secured party having control of the letter-of-credit right under section 41-09-07 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.\n2.Security interests perfected by control under section 41-09-34 rank according to priority in time of obtaining control.","path":["Title 41 Uniform Commercial Code","Chapter 41-09 Secured Transactions"],"source_url":"https://ndlegis.gov/cencode/t41c09.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"b5b28033127c2909c6bff4ba102c6cdcdafecc993ca3571bbe8548713c456b6b","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-41-09-48","next":"us-nd/n.d.-cent.-code-41-09-50"},"notice":"GroundRules: Original legal text. Not legal advice."}