UCC 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 ORS 79.0107 (UCC 9-107. Control of letter-of-credit right) 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 ORS 79.0314 (UCC 9-314. Perfection by control) rank according to priority in time of obtaining control. [2001 c.445 §49]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information