Wisconsin § 409.329 Priority of security interests in letter-of-credit right.

Wisconsin Statutes

§ 409.329 — Priority of security interests in letter-of-credit right.

Wisconsin § 409.329

Ch. 409Uniform commercial code — secured transactions

Subch.subch. III of ch. 409 SUBCHAPTER III

PERFECTION AND PRIORITY

This text of Wisconsin § 409.329 (Priority of security interests in letter-of-credit right.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 409.329 (2026).

Text

329  The following rules govern priority among conflicting security interests in the same letter-of-credit right:
329(1) (1) Control by secured party. A security interest held by a secured party having control of the letter-of-credit right under s. 409.107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.
329(2) (2) Priority in time of control. Security interests perfected by control under s. 409.314 rank according to priority in time of obtaining control.

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409.329 The following rules govern priority among conflicting security interests in the same letter-of-credit right:
409.329(1) (1) Control by secured party. A security interest held by a secured party having control of the letter-of-credit right under s. 409.107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.
409.329(2) (2) Priority in time of control. Security interests perfected by control under s. 409.314 rank according to priority in time of obtaining control.