Utah § 70A-9a-329 Priority of security interests in letter-of-credit right.

Utah Statutes

§ 70A-9a-329 — Priority of security interests in letter-of-credit right.

Utah § 70A-9a-329

Title 70AUniform Commercial Code

Ch. 70A-9aUniform Commercial Code - Secured Transactions

Part 70A-9a-3Perfection and Priority

This text of Utah § 70A-9a-329 (Priority of security interests in letter-of-credit right.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 70A-9a-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 Section 70A-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 Section 70A-9a-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 Section 70A-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 Section 70A-9a-314 rank according to priority in time of obtaining control.