47-9107. 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 47-5114, subsection C or otherwise applicable law or practice.
Section: Previous 47-8511 47-9101 47-9102 47-9103 47-9104 47-9105 47-9106 47-9107 47-9108 47-9109 47-9110 47-9201 47-9202 47-9203 47-9204 NextLast modified: October 13, 2016