Kansas § 84-9-329 Priority of security interests in letter-of-credit right

Kansas Statutes

§ 84-9-329 — Priority of security interests in letter-of-credit right

Kansas § 84-9-329

Ch. 84UNIFORM COMMERCIAL CODE

Art. 9SECURED TRANSACTIONS

This text of Kansas § 84-9-329 (Priority of security interests in letter-of-credit right) is published on Counsel Stack Legal Research, covering Kansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Kan. Stat. Ann. § 84-9-329 (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 K.S.A. 2024 Supp. 84-9-107, and amendments thereto, 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 K.S.A. 2024 Supp. 84-9-314, and amendments thereto, 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 K.S.A. 2024 Supp. 84-9-107, and amendments thereto, 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 K.S.A. 2024 Supp. 84-9-314, and amendments thereto, rank according to priority in time of obtaining control.