Alaska § 45.29.329 - Priority of security interests in letter-of-credit right.
Full text of Alaska Alaska Statutes § 45.29.329 — Priority of security interests in letter-of-credit right., with citation guidance and answers to common questions.
§ 45.29.329. 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 AS 45.29.107 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 AS 45.29.314 rank according to priority in time of obtaining control.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 45.29.329
What does Alaska Statutes § 45.29.329 cover?
Section 45.29.329 ("Priority of security interests in letter-of-credit right.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 45.29.329?
A common citation format is "Alaska Statutes § 45.29.329" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 45.29.329 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.