Statute · California Commercial Code
Cal. Com. Code § 9329 — Perfection and Priority
Cal. Com. Code § 9329
- Type
- Statute
- Source
- California Commercial Code
- Jurisdiction
- California
- Date
- 2000-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The following rules govern priority among conflicting security interests in the same letter-of-credit right:
Citator
Cal. Com. Code § 9329 — Perfection and Priority is in force in the current edition of the Code, and nothing recorded condemns it.
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 9107 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 9314 rank according to priority in time of obtaining control.