Conn. Gen. Stat. § 42a-9-329
This is the official text of Conn. Gen. Stat. § 42a-9-329, part of Connecticut’s Gen. Stat — part of the compiled statutory law of Connecticut, published by the state as "Gen. Stat." Browse the sections below, each linked to its official government source.
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Sec. 42a-9-329. Priority of security interests in letter-of-credit right.
Official statutory text
(1) A security interest held by a secured party having control of the letter-of-credit right under section 42a-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 42a-9-314 rank according to priority in time of obtaining control.
(2) Security interests perfected by control under section 42a-9-314 rank according to priority in time of obtaining control.
Status: in_force · Read it on the official government site
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