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Georgia State Code
Title      11
Chapter       9  
Section Navigation   101 ... 110       111 ... 209   
   210 ... 309       310 ... 319   
   320 ... 328         329 ... 338   
   339 ... 406       407 ... 507   
   508 ... 517       518 ... 601   
   602 ... 611       612 ... 621   
   622 ... 703       704 ... 710     
Section<<< 329 330 331 332 333 334 335 336 337 338 >>>  
Title 11, Chapter 9, Section 329 (11-9-329)
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 Code Section 11-9-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control; and

(2) Security interests perfected by control under Code Section 11-9-314 rank according to priority in time of obtaining control.

Sunday May 24 00:29 EDT


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