{"data":{"id":"us-nc/n.c.-gen.-stat.-25-5-112","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-5-112","heading":"Transfer of letter of credit.","body":"(a)\tExcept as otherwise provided in G.S. 25-5-113, 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)\tEven if a letter of credit provides that it is transferable, the issuer may refuse to recognize or carry out a transfer if:\n(1)\tThe transfer would violate applicable law; or\n(2)\tThe transferor or transferee has failed to comply with any requirement stated in the letter of credit or any other requirement relating to transfer imposed by the issuer which is within the standard practice referred to in G.S. 25-5-108(e) or is otherwise reasonable under the circumstances. (1999-73, s. 1.)","path":["Chapter 25. Uniform Commercial Code.","Article 5. Letters of Credit."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-5-112.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"1c66d7f523b2d5130aef9217965ab2a5fee6f7337773758a2a7a18fc8ea05523","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-5-111","next":"us-nc/n.c.-gen.-stat.-25-5-113"},"notice":"GroundRules: Original legal text. Not legal advice."}