47-9329. Priority of security interests in
letter-of-credit right


The following rules govern priority among conflicting security interests in the same
letter-of-credit right:


1. A security interest held by a secured party having control of the
letter-of-credit right under section 47-9107 has priority to the extent of its control
over a conflicting security interest held by a secured party that does not have control.


2. Security interests perfected by control under section 47-9314 rank according to
priority in time of obtaining control.