70A-9a-329 - Priority of security interests in letter-of-credit right. - Utah Statutes

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70A-9a-329. Priority of security interests in letter-of-credit right.
The following rules govern priority among conflicting security interests in the sameletter-of-credit right:
(1) A security interest held by a secured party having control of the letter-of-credit rightunder Section 70A-9a-107 has priority to the extent of its control over a conflicting securityinterest held by a secured party that does not have control.
(2) Security interests perfected by control under Section 70A-9a-314 rank according topriority in time of obtaining control.

Enacted by Chapter 252, 2000 General Session

State Codes and Statutes

Statutes > Utah > Title-70a > Chapter-09a > 70a-9a-329

70A-9a-329. Priority of security interests in letter-of-credit right.
The following rules govern priority among conflicting security interests in the sameletter-of-credit right:
(1) A security interest held by a secured party having control of the letter-of-credit rightunder Section 70A-9a-107 has priority to the extent of its control over a conflicting securityinterest held by a secured party that does not have control.
(2) Security interests perfected by control under Section 70A-9a-314 rank according topriority in time of obtaining control.

Enacted by Chapter 252, 2000 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-70a > Chapter-09a > 70a-9a-329

70A-9a-329. Priority of security interests in letter-of-credit right.
The following rules govern priority among conflicting security interests in the sameletter-of-credit right:
(1) A security interest held by a secured party having control of the letter-of-credit rightunder Section 70A-9a-107 has priority to the extent of its control over a conflicting securityinterest held by a secured party that does not have control.
(2) Security interests perfected by control under Section 70A-9a-314 rank according topriority in time of obtaining control.

Enacted by Chapter 252, 2000 General Session