Haw. Rev. Stat. § 490:9-329

Current through Act 47 of the 2024 Legislative Session

Section 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.

HRS § 490:9-329

L 2000, c 241 , pt of §1