The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 9-329)
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§ 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 9—107 of this title 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 9—314 of this title rank according to priority in time of obtaining control. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)