GroundRules
O.C.G.A. § 11-9-107: Control of letter of credit right.
Where this section sits in the code
- TITLE 11 Commercial Code
- Article 9 Secured Transactions
- PART 1 General Provisions
- Subpart 1 Short Title, Definitions, and General Concepts
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 (c) of Code Section 11-5-114 or otherwise applicable law or practice.
Collected 2026-09-17T19:34:57Z. Source file · JSON