TITLE 6A

Uniform Commercial Code

CHAPTER 6A-5

Letters of Credit

SECTION 6A-5-119



   § 6A-5-119  Transition. –

This chapter shall take effect on July 1, 2001 and applies to a letter of

credit that is issued on or after the effective date of this chapter. This

chapter 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 chapter. A transaction arising out of or associated with a letter

of credit that was issued before the effective date of this chapter and the

rights, obligations, and interests flowing from that transaction are governed

by any statute or other law amended or repealed by this chapter as if repeal or

amendment had not occurred and may be terminated, completed, consummated, or

enforced under that statute or other law.



History of Section.

(P.L. 2000, ch. 182, § 4; P.L. 2000, ch. 420, § 4.)