{"data":{"id":"us-ak/as-45.05.112","jurisdiction":"us-ak","citation":"AS 45.05.112","heading":"Transfer of letter of credit.","body":"(a) Except as otherwise provided in AS 45.05.113, unless a letter of credit provides that it is transferable, the right of a beneficiary to draw or otherwise demand performance under a letter of credit may not be transferred.\n(b) Even if a letter of credit provides that it is transferable, the issuer may refuse to recognize or carry out a transfer if\n(1) the transfer would violate applicable law; or\n(2) the transferor or transferee has failed to comply with a requirement stated in the letter of credit, or with another requirement that\n(A) relates to transfer imposed by the issuer; and\n(B) is within the standard practice referred to in AS 45.05.108(e) or is otherwise reasonable under the circumstances.","path":["Title 45. Trade and Commerce.","Chapter 05. Letters of Credit."],"source_url":"https://www.akleg.gov/basis/statutes.asp#45.05.112","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:19:44Z","sha256":"d816147d0a13046f58ffe38d683bb301aed8c50db64ba0bd96971290c9f63150","source_id":"us-ak","stale":false,"prev":"us-ak/as-45.05.111","next":"us-ak/as-45.05.113"},"notice":"GroundRules: Original legal text. Not legal advice."}