Hmm. What version of LabVIEW are you using? What are you using to "take control of COMport 1"? Are you using VISA? Some sort of DLL? An ActiveX object?
The most common way of accessing the serial port from LabVIEW is to use VISA. In general, different parts of your VIs can reuse the same VISA session, so this shouldn't be a problem. Even if it is, you can use "VISA Close" to close one session, and then open it again in another part of your application.
Brian