GroundRules
Utah Code § 70A-9a-107: Control of letter-of-credit right.
Where this section sits in the code
- Title 70A Uniform Commercial Code
- Chapter 70A-9a Uniform Commercial Code - Secured Transactions
- Part 70A-9a-1 General Provisions
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.
Collected 2026-09-03T11:34:34Z. Source file · JSON