70A-9a-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 Sectionhas priority to the extent of its control over a conflicting security interest held by a secured party that does not have control. 70A-9a-107
(2) Security interests perfected by control under Sectionrank according to priority in time of obtaining control. 70A-9a-314