2011 Louisiana Laws
Revised Statutes
TITLE 10 — Commercial laws
RS 10:9-329 — Priority of security interests in letter-of-credit right
§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 R.S. 10:9-107 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 R.S. 10:9-314 rank according to priority in time of obtaining control.
Acts 2001, No. 128, §1, eff. July 1, 2001.
Disclaimer: These codes may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
