2010 Florida Statutes
Priority of security interests in letter-of-credit right.
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:
A security interest held by a secured party having control of the letter-of-credit right under s. 679.1071 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.
Security interests perfected by control under s. 679.3141 rank according to priority in time of obtaining control.
s. 3, ch. 2001-198.