Minnesota § 336.9-329 336.9-329 PRIORITY OF SECURITY INTERESTS IN LETTER OF CREDIT RIGHT.

Minnesota Statutes

§ 336.9-329 — 336.9-329 PRIORITY OF SECURITY INTERESTS IN LETTER OF CREDIT RIGHT.

Minnesota § 336.9-329

PartTRADE REGULATIONS, CONSUMER PROTECTION

Ch. 336UNIFORM COMMERCIAL CODE

This text of Minnesota § 336.9-329 (336.9-329 PRIORITY OF SECURITY INTERESTS IN LETTER OF CREDIT RIGHT.) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 336.9-329 (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 section336.9-107has 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 section336.9-314rank 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 section336.9-107has 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 section336.9-314rank according to priority in time of obtaining control.