Ohio Rev. Code § 1309.329
Priority of security interests in letter-of-credit right - UCC 9-329.
Ohio · Chapter 1309 | Secured Transactions · Status: effective
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- Citation
- Ohio Rev. Code § 1309.329, Priority of security interests in letter-of-credit right - UCC 9-329, Ohio, version 1 as recorded 2026-08-11, yourstate.us, https://yourstate.us/provision/1169900
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Full text
The following govern priority among conflicting security interests in the same letter-of-credit right:
(A) A security interest held by a secured party having control of the letter-of-credit right under section 1309.107 of the Revised Code has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.
(B) Security interests perfected by control under section 1309.314 of the Revised Code rank according to priority in time of obtaining control.