Kansas Statutes 84-9-329. Priority of security interests in letter-of-credit right
Current as of: 2023 | Check for updates
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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 Kan. Stat. Ann. 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 Kan. Stat. Ann. 2023 Supp. 84-9-314, and amendments thereto, rank according to priority in time of obtaining control.