2009 Hawaii Code
Volume 11
TITLE 27 - UNIFORM COMMERCIAL CODE
CHAPTER 490 - UNIFORM COMMERCIAL CODE
§490:9-329 - Priority of security interests in letter-of-credit right.
§490:9-329 Priority of security interests in letter-of-credit right. 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 490:9-107 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 490:9-314 rank according to priority in time of obtaining control. [L 2000, c 241, pt of §1]
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