§490:9-107 Control of letter-of-credit right. A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under section 490:5-114(c) or otherwise applicable law or practice. [L 2000, c 241, pt of §1]
Section: Previous 490-8-511 490-9-101-to-490-9-507 490-9-102 490-9-103 490-9-104 490-9-105 490-9-106 490-9-107 490-9-108 490-9-109 490-9-110 490-9-201 490-9-202 490-9-203 490-9-204 NextLast modified: October 27, 2016