Kan. Stat. § 84-9-329

Current through 2024 Session Acts Chapter 111 and 2024 Special Session Acts Chapter 4

Section 84-9-329 - 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 K.S.A. 2023 Supp. 84-9-107, and amendments thereto, 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 K.S.A. 2023 Supp. 84-9-314, and amendments thereto, rank according to priority in time of obtaining control.

K.S.A. 84-9-329

L. 2000, ch. 142, § 49; 7/1/2001.