GroundRules
AS 45.29.107: Control of letter-of-credit right.
Where this section sits in the code
- Title 45. Trade and Commerce.
- Chapter 29. Secured Transactions.
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.
Collected 2026-09-02T06:19:44Z. Source file · JSON