N.H. Rev. Stat. § 382-A:9-329

Current through the 2024 Legislative

Section 382-A: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 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 9-314 rank according to priority in time of obtaining control.

RSA 382-A:9-329

2001, 102:25, eff. July 1, 2001.