State Codes and Statutes
Statutes > Missouri > T26 > C400 > 400_9-329Priority of security interests in letter-of-credit right.
400.9-329. The following rules govern priority among conflictingsecurity interests in the same letter-of-credit right:
(1) A security interest held by a secured party having control of theletter-of-credit right under section 400.9-107 has priority to the extentof its control over a conflicting security interest held by a secured partythat does not have control.
(2) Security interests perfected by control under section 400.9-314rank according to priority in time of obtaining control.
(L. 2001 S.B. 288)Effective 7-01-01
