Montana § 30-9A-329 Priority Of Security Interests In Letter-Of-Credit Right

Montana Statutes

§ 30-9A-329 — Priority Of Security Interests In Letter-Of-Credit Right

Montana § 30-9A-329

Title 30TRADE AND COMMERCE

Ch. 9AUNIFORM COMMERCIAL CODE SECURED TRANSACTIONS

Part 3Perfection and Priority

This text of Montana § 30-9A-329 (Priority Of Security Interests In Letter-Of-Credit Right) 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-329 (2026).

Text

30-9A-329 . Priority of security interests in letter-of-credit right. 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 30-9A-107 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 30-9A-314 rank according to priority in time of obtaining control.

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30-9A-329 . Priority of security interests in letter-of-credit right. 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 30-9A-107 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 30-9A-314 rank according to priority in time of obtaining control.