Alaska Statutes Title 45. Trade and Commerce § 45.29.329. Priority of security interests in letter-of-credit right
Current as of January 01, 2022 | Updated by FindLaw Staff
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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 AS 45.29.107 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 AS 45.29.314 rank according to priority in time of obtaining control.
Cite this article: FindLaw.com - Alaska Statutes Title 45. Trade and Commerce § 45.29.329. Priority of security interests in letter-of-credit right - last updated January 01, 2022 | https://codes.findlaw.com/ak/title-45-trade-and-commerce/ak-st-sect-45-29-329.html
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