Priority of security interests in letter-of-credit right.

S.C. Code Ann. § 36-9-329
in effect
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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 Section 36-9-107 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 36-9-314 rank according to priority in time of obtaining control.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t36c009.phpFetched: 10/17/2026

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