GroundRules
ORS 79A.1070: UCC 9-107. Control of letter-of-credit right.
Where this section sits in the code
- 02 - Business Organizations, Commercial Code
- 8. Commercial Transactions
- Chapter 79A — 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 any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under ORS 75.1140 (3) or otherwise applicable law or practice.
Collected 2026-09-03T23:50:11Z. Source file · JSON