2014 Wyoming Statutes
TITLE 34.1 - UNIFORM COMMERCIAL CODE
ARTICLE 9 - SECURED TRANSACTIONS
34.1-9-329. Priority of security interests in letter-of-credit right.


WY Stat § 34.1-9-329 (2014) What's This?

34.1-9-329. Priority of security interests in letter-of-credit right.

(a) The following rules govern priority among conflicting security interests in the same letter-of-credit right:

(i) A security interest held by a secured party having control of the letter-of-credit right under section 34.1-9-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control;

(ii) Security interests perfected by control under section 34.1-9-314 rank according to priority in time of obtaining control.

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