§ 75-9-329. Priority of security interests in letter-of-credit right

MS Code § 75-9-329 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(1) A security interest held by a secured party having control of the letter-of-credit right under Section 75-9-107 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 75-9-314 rank according to priority in time of obtaining control.