§ 9-329.1. Priority of Security Interests in Beneficial Interest in an Illinois Land Trust. The following rules govern priority among conflicting security interests in the
same beneficial interest in an Illinois land trust:
(1) A security interest held by a secured party having control of the beneficial interest
under Section 9-107.1 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 9-314 rank according to
priority in time of obtaining control.
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