Title 70A - Uniform Commercial Code - Chapter 9a - Uniform Commercial Code - Secured Transactions - Part 1 - General Provisions - Section 107 - Control of letter-of-credit right.

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.

Utah Code

Page 1

70A-9a-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 Subsection 70A-5-114(3) or otherwise applicable law or practice.

Enacted by Chapter 252, 2000 General Session