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 § 47-9329

Title 47Arizona Revised Statutes

Ch. 9SECURED TRANSACTIONS

Art. 3Perfection and Priority

This text of Arizona § 47-9329 (Priority of security interests in letter-of-credit right) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 47-9329 (2026).

Text

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.

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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.