Idaho Statutes

Idaho Statutes are updated to the web July 1 following the legislative session.

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TITLE 28
COMMERCIAL TRANSACTIONS
CHAPTER 9
SECURED TRANSACTIONS
PART 3.
PERFECTION AND PRIORITY
28-9-329.  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 section 28-9-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.
(2)  Security interests perfected by control under section 28-9-314 rank according to priority in time of obtaining control.

History:
[28-9-329, added 2001, ch. 208, sec. 2, p. 750.]


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