§ 9–329
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 9-329 (2026)
Title 9. Secured Transactions
Subtitle 3. Perfection and Priority
§ 9–329LinkCopy Citation
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 § 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 § 9-314 rank according to priority in time of obtaining control.