{"data":{"id":"us-wi/wis.-stat.-409.329","jurisdiction":"us-wi","citation":"Wis. Stat. § 409.329","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) Control by secured party. A security interest held by a secured party having control of the letter-of-credit right under s. 409.107 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) Priority in time of control. Security interests perfected by control under s. 409.314 rank according to priority in time of obtaining control.","path":["Chs. 401-411, Uniform Commercial Code","Chapter 409 Uniform Commercial Code — Secured Transactions","SUBCHAPTER III PERFECTION AND PRIORITY"],"source_url":"https://docs.legis.wisconsin.gov/document/statutes/409.329","current_through":"2023-24 Wisconsin Statutes updated through 2025 Wis. Act 247 (published 9-4-26)","vintage":"","retrieved_at":"2026-09-05T12:01:22Z","sha256":"bf6d66537cfc5ebb04d3c63987959e275bdd75ca712a97449ab5f66b3925788a","source_id":"us-wi","stale":false,"prev":"us-wi/wis.-stat.-409.328","next":"us-wi/wis.-stat.-409.330"},"notice":"GroundRules: Original legal text. Not legal advice."}