554.9329 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 section 554.9107 has priority to the extent of its control over a conflicting securityinterest held by a secured party that does not have control. 2. Security interests perfected by control under section 554.9314 rank according to priority in time of obtaining control. 2000 Acts, ch 1149, §49, 187Referred to in §554.9322 Sat Dec 23 11:01:58 2023 Iowa Code 2024, Section 554.9329 (24, 0)
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