La. Stat. tit. 10 § 9-329
Current with changes from the 2024 legislative session effective on or before 7/1/2024, from Acts 2,3, 6-535, and 580-647
Section 10:9-329 - Priority of security interests in letter-of-credit rightThe 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. 7/1/2001.