{"data":{"id":"us-nj/n.j.-stat.-12a-9-329","jurisdiction":"us-nj","citation":"N.J. Stat. § 12A:9-329","heading":"Priority of security interests in letter-of-credit right.","body":"Priority of Security Interests in Letter-of-Credit Right.\nThe following rules govern priority among conflicting security interests in the same letter-of-credit right:\n(1)\tA security interest held by a secured party having control of the letter-of-credit right under 12A: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)\tSecurity interests perfected by control under 12A:9-314 rank according to priority in time of obtaining control.\nL.2001, c.117, s.1; amended 2001, c.386, s.45.","path":["TITLE 12A COMMERCIAL TRANSACTIONS"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"c399a8999c687b3aa5bedae749b36b76e3f8e38c23d91c74c034ab7e10d63761","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-12a-9-328","next":"us-nj/n.j.-stat.-12a-9-330"},"notice":"GroundRules: Original legal text. Not legal advice."}