Arizona § 47-9329 Priority of security interests in letter-of-credit right

Arizona Statutes

§ 47-9329 — Priority of security interests in letter-of-credit right

Arizona·Title 47 Arizona Revised Statutes·Ch. 9 SECURED TRANSACTIONS·Art. 3 Perfection and Priority

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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.

Arizona § 47-9329 (Priority of security interests in letter-of-credit right) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.