NRS 104.9329 Priority among conflicting security interests in same letter-of-credit right.
84 words·~1 min read·
/nv/chapter-104-uniform-commercial-code-original-articles/104-9329A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 104.9329 Priority among conflicting security interests in same 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 NRS 104.9107 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 NRS 104.9314 rank according to priority in time of obtaining control.