Montana § 30-9A-306 Law Governing Perfection And Priority Of Security Interests In Letter-Of-Credit Rights

Montana Statutes

§ 30-9A-306 — Law Governing Perfection And Priority Of Security Interests In Letter-Of-Credit Rights

Montana § 30-9A-306

Title 30TRADE AND COMMERCE

Ch. 9AUNIFORM COMMERCIAL CODE SECURED TRANSACTIONS

Part 3Perfection and Priority

This text of Montana § 30-9A-306 (Law Governing Perfection And Priority Of Security Interests In Letter-Of-Credit Rights) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 30-9A-306 (2026).

Text

30-9A-306 . Law governing perfection and priority of security interests in letter-of-credit rights.

(1)Subject to subsection (3), the local law of the issuer's jurisdiction or a nominated person's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a letter-of-credit right if the issuer's jurisdiction or nominated person's jurisdiction is a state.

(2)For purposes of this part, an issuer's jurisdiction or nominated person's jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with respect to the letter-of-credit right as provided in 30-5-136 .

(3)This section does not apply to a security interest that is perfected only under 30-9A-308 (4).

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30-9A-306 . Law governing perfection and priority of security interests in letter-of-credit rights. (1) Subject to subsection (3), the local law of the issuer's jurisdiction or a nominated person's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a letter-of-credit right if the issuer's jurisdiction or nominated person's jurisdiction is a state.
(2) For purposes of this part, an issuer's jurisdiction or nominated person's jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with respect to the letter-of-credit right as provided in 30-5-136 .
(3) This section does not apply to a security interest that is perfected only under 30-9A-308 (4).