§490:9-329 - Priority of security interests in letter-of-credit right. - Hawaii Statutes

     §490:9-329  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 490:9-107 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 490:9-314 rank according to priority in time of obtaining control. [L 2000, c 241, pt of §1]