One Click Case Law for § 11-9-329
O.C.G.A. § 11-9-328 <-- --> O.C.G.A. §11-9-330

2010 Georgia Code

TITLE 11 - COMMERCIAL CODE
ARTICLE 9 - SECURED TRANSACTIONS
PART 3 - PERFECTION AND PRIORITY
PART 3 - PRIORITY
§ 11-9-329 - Priority of security interests in letter of credit right

O.C.G.A. 11-9-329 (2010)
11-9-329. 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 Code Section 11-9-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control; and

(2) Security interests perfected by control under Code Section 11-9-314 rank according to priority in time of obtaining control.