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 a nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under AS 45.05.114 (c) or otherwise applicable law or practice.
Section: Previous 45.29.101 45.29.102 45.29.103 45.29.104 45.29.105 45.29.106 45.29.107 45.29.108 45.29.109 45.29.110 NextLast modified: November 15, 2016