§490:9-329  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 490:9-107 has
priority to the extent of its control over a conflicting security interest held
by a secured party that does not have control.



(2)  Security interests perfected by control under
section 490:9-314 rank according to priority in time of obtaining control. [L
2000, c 241, pt of §1]