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State Statutes - Idaho - Title 28 - Chapter 9 - 28-9-329
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28-9-329 - 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 28-9-107 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 28-9-314 rank
according to priority in time of obtaining control.
 
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