RCW 62A.9A-329Priority 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 RCW 62A.9A-107 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 RCW 62A.9A-314 rank according to priority in time of obtaining control.[2000 c 250 s 9A-329.]
Washington Legal Code