Priority of security interests in letter-of-credit right

84-9-329. 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 K.S.A. 2025 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 K.S.A. 2025 Supp. 84-9-314, and amendments thereto, rank according to priority in time of obtaining control. History: L. 2000, ch. 142, § 49; July 1, 2001. Law Review and Bar Journal References: "A Brief Overview of Revised Article 9 in Kansas," John K. Pearson and J. Scott Pohl, 72 J.K.B.A. No. 8, 22 (2003).