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·Title 30 TRADE AND COMMERCE·Ch. 9A UNIFORM COMMERCIAL CODE SECURED TRANSACTIONS·Part 3 Perfection and Priority

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.

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