104.9329 - Priority among conflicting security interests in same letter-of-credit right.
104.9329 Priority among conflicting security interests in same 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 NRS 104.9107 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 NRS 104.9314 rank according to priority in time of obtaining control.
(Added to NRS by 1999, 318)