Oklahoma § 12A-1-9-329 Priority of security interests in letter-of-credit

Oklahoma Statutes

§ 12A-1-9-329 — Priority of security interests in letter-of-credit

Oklahoma § 12A-1-9-329

Title 12AUniform Commercial Code

This text of Oklahoma § 12A-1-9-329 (Priority of security interests in letter-of-credit) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 12A, § 12A-1-9-329 (2026).

Text

right. 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 Section 1-9-107 of this title 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 Section 1-9- 314 of this title rank according to priority in time of obtaining control.

Free access — add to your briefcase to read the full text and ask questions with AI

right. 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 Section 1-9-107 of this title 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 Section 1-9- 314 of this title rank according to priority in time of obtaining control.