South Dakota § 57A-9-329 Priority among conflicting security interests in same letter

South Dakota Statutes

§ 57A-9-329 — Priority among conflicting security interests in same letter

South Dakota § 57A-9-329

Title 57AUNIFORM COMMERCIAL CODE

Ch. 57A-6SECURED TRANSACTIONS

This text of South Dakota § 57A-9-329 (Priority among conflicting security interests in same letter) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 57A-9-329 (2026).

Text

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 § 57A-9-107 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 § 57A-9-314 rank according to priority in time of obtaining control.

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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 § 57A-9-107 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 § 57A-9-314 rank according to priority in time of obtaining control.