Hawaii Revised Statutes 490:9-329 – 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 490:9-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.

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(2) Security interests perfected by control under § 490:9-314 rank according to priority in time of obtaining control.

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Hawaii Revised Statutes 490:9-329 – Priority of security interests in letter-of-credit right

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