GroundRules
Minn. Stat. § 336.9-107: CONTROL OF LETTER OF CREDIT RIGHT.
Where this section sits in the code
- TRADE REGULATIONS, CONSUMER PROTECTION
- CHAPTER 336. UNIFORM COMMERCIAL CODE
- Revised 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 section 336.5-114(c) or otherwise applicable law or practice.
Collected 2026-09-02T22:10:43Z. Source file · JSON