New York § 9-329 Priority of Security Interests in Letter-of-credit Right

New York Statutes

§ 9-329 — Priority of Security Interests in Letter-of-credit Right

New York § 9-329

JurisdictionNew York

Law UCCUniform Commercial Code

Part 3Perfection and Priority

Subpart 3Priority

Art. 9Secured Transactions

This text of New York § 9-329 (Priority of Security Interests in Letter-of-credit Right) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Uniform Commercial Code § 9-329 (2026).

Text

Section 9--329. Priority of Security Interests in Letter-of-credit\n                  Right.\n  The following rules govern priority among conflicting security\ninterests in the same letter-of-credit right:\n  (a) A security interest held by a secured party having control of the\nletter-of-credit right under Section 9--107 has priority to the extent\nof its control over a conflicting security interest held by a secured\nparty that does not have control.\n  (b) Security interests perfected by control under Section 9--314 rank\naccording to priority in time of obtaining control.\n

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Section 9--329. Priority of Security Interests in Letter-of-credit\n Right.\n The following rules govern priority among conflicting security\ninterests in the same letter-of-credit right:\n (a) A security interest held by a secured party having control of the\nletter-of-credit right under Section 9--107 has priority to the extent\nof its control over a conflicting security interest held by a secured\nparty that does not have control.\n (b) Security interests perfected by control under Section 9--314 rank\naccording to priority in time of obtaining control.\n