West Virginia § 46-9-329 Priority of security interests in letter-of-credit right

West Virginia Statutes

§ 46-9-329 — Priority of security interests in letter-of-credit right

West Virginia § 46-9-329

Ch. 46UNIFORM COMMERCIAL CODE

Art. 9SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER

This text of West Virginia § 46-9-329 (Priority of security interests in letter-of-credit right) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 46-9-329 (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 section 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 section 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 section 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 section 9-314 rank according to priority in time of obtaining control.