2012 Pennsylvania Consolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 93 - Perfection and Priority
Section 9329 - Priority of security interests in letter-of-credit right

     § 9329.  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 9107
        (relating to control of letter-of-credit right) 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 (relating to perfection by control) rank
        according to priority in time of obtaining control.

        Cross References.  Section 9329 is referred to in section
     9322 of this title.