{"code":"COM","codeName":"Commercial Code","section":"9329","citation":"Com. Code, § 9329","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 9. SECURED TRANSACTIONS [9101. - 9907.]","url":"https://blackletter.si/commercial-code/division-9"},{"name":"CHAPTER 3. Perfection and Priority [9301. - 9342.]","url":"https://blackletter.si/commercial-code/division-9/chapter-3"}],"history":"Added by Stats. 1999, Ch. 991, Sec. 35.   Effective January 1, 2000.   Operative July 1, 2001, by Sec. 75 of Ch. 991 and Section 9701.","effective":"2000-01-01","html":"<p>The following rules govern priority among conflicting security interests in the same letter-of-credit right:</p><p>(1) A security interest held by a secured party having control of the letter-of-credit right under Section <a href=\"/com/9107\">9107</a> has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.</p><p>(2) Security interests perfected by control under Section <a href=\"/com/9314\">9314</a> rank according to priority in time of obtaining control.</p>","text":"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 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 Section 9314 rank according to priority in time of obtaining control.","otherVersions":[],"url":"https://blackletter.si/commercial-code/perfection-and-priority-9329","source":"California Legislative Information bulk export (pubinfo)"}