New York Uniform Commercial Code Law Section 5-119 - Applicability.

Section 5--119. Applicability.
This  article applies to a letter of credit that is issued on or after
  the effective date of this article. This article does  not  apply  to  a
  transaction,  event,  obligation,  or  duty arising out of or associated
  with a letter of credit that was issued before  the  effective  date  of
  this article.

Last modified: February 3, 2019