---
title: O.C.G.A. § 11-9-329. Priority of security interests in letter of credit right.
collection: code
id: 11-9-329
cite_as: O.C.G.A. § 11-9-329 (2025)
canonical_url: https://georgiacommons.org/code/11-9-329
md_url: https://georgiacommons.org/code/11-9-329.md
text_url: https://georgiacommons.org/code/11-9-329/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t11-(v9)-2022-pdf.pdf?sfvrsn=b5451bbd_0#page=825
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/11-9.md
previous: https://georgiacommons.org/code/11-9-328.md
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCIAL CODE / SECURED TRANSACTIONS / PERFECTION AND PRIORITY / Priority
---

# O.C.G.A. § 11-9-329. 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 Code Section 11-9-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control; and

(2) Security interests perfected by control under Code Section 11-9-314 rank according to priority in time of obtaining control.

## History

Code 1981, § 11-9-329, enacted by Ga. L. 2001, p. 362, § 1.