California § 9329. 9329. (Added by Stats. 1999, Ch. 991, Sec. 35.)

California Statutes

§ 9329. — 9329. (Added by Stats. 1999, Ch. 991, Sec. 35.)

California § 9329.

Code COMCommercial Code - COM

Div. 9.DIVISION 9. SECURED TRANSACTIONS

Ch. 3.CHAPTER 3. Perfection and Priority

This text of California § 9329. (9329. (Added by Stats. 1999, Ch. 991, Sec. 35.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Commercial Code - COM Code § 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 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 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 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 9314 rank according to priority in time of obtaining control.

Legislative History

Added by Stats. 1999, Ch. 991, Sec. 35. Effective January 1, 2000. Operative July 1, 2001, by Sec. 75 of Ch. 991 and Section 9701.

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California § 9329., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/COM/9329..