Priority of security interests in letter-of-credit right.
Neb. U.C.C. § 9-329
in effectUCC 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 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 9-314 rank according to priority in time of obtaining control.
Laws 1999, LB 550, § 122.
Source: Nebraska Legislature (nebraskalegislature.gov)URL: https://nebraskalegislature.gov/laws/ucc.php?code=9-329Fetched: 10/20/2026