{"data":{"id":"us-ny/n.y.-uniform-commercial-code-law-9-329","jurisdiction":"us-ny","citation":"N.Y. Uniform Commercial Code Law § 9-329","heading":"Priority of Security Interests in Letter-of-credit Right","body":"Section 9--329. Priority of Security Interests in Letter-of-credit\n                  Right.\n  The following rules govern priority among conflicting security\ninterests in the same letter-of-credit right:\n  (a) A security interest held by a secured party having control of the\nletter-of-credit right under Section 9--107 has priority to the extent\nof its control over a conflicting security interest held by a secured\nparty that does not have control.\n  (b) Security interests perfected by control under Section 9--314 rank\naccording to priority in time of obtaining control.","path":["Uniform Commercial Code Law","Article 9. Secured Transactions","Part 3. Perfection and Priority","Subpart 3. Priority"],"source_url":"https://legislation.nysenate.gov/api/3/laws/UCC/9-329","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:45Z","sha256":"a39da2de8aa5e2e5f5d49f70a3114f36ce135457886b9576465de1d2c1ee09e8","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-uniform-commercial-code-law-9-328","next":"us-ny/n.y.-uniform-commercial-code-law-9-330"},"notice":"GroundRules: Original legal text. Not legal advice."}