SECTION 679.329. Priority of security interests in letter-of-credit right.

Latest version.

1The following rules govern priority among conflicting security interests in the same letter-of-credit right:
15(1) 16A security interest held by a secured party having control of the letter-of-credit right under s. 32679.1071 33has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.
56(2) 57Security interests perfected by control under s. 64679.3141 65rank according to priority in time of obtaining control.

History.-s. 3, ch. 2001-198.

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