Home Table of Contents

§ 1-9-329. Priority of security interests in letter-of-credit right

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 9. Secured Transactions (Refs & Annos)
Part 3. Perfection and Priority (Refs & Annos)
12A Okl.St.Ann. § 1-9-329
§ 1-9-329. Priority of security interests in letter-of-credit right
Currentness
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 1-9-107 of this title 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 1-9-314 of this title rank according to priority in time of obtaining control.

Credits

Laws 2000, c. 371, § 56, eff. July 1, 2001.
12A Okl. St. Ann. § 1-9-329, OK ST T. 12A § 1-9-329
Current with emergency effective legislation through Chapter 182 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document