{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-1-9-306","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-1-9-306","heading":"Law governing perfection and priority of security","body":"interests in letter-of-credit rights.\n\nLAW GOVERNING PERFECTION AND PRIORITY\n\nOF SECURITY INTERESTS IN LETTER-OF-CREDIT RIGHTS\n\n(a) Subject to subsection (c) of this section, the local law of\n\nthe issuer’s jurisdiction or a nominated person’s jurisdiction\n\ngoverns perfection, the effect of perfection or nonperfection, and\n\nthe priority of a security interest in a letter-of-credit right if\n\nthe issuer’s jurisdiction or nominated person’s jurisdiction is a\n\nstate.\n\n(b) For purposes of this part, an issuer’s jurisdiction or\n\nnominated person’s jurisdiction is the jurisdiction whose law\n\ngoverns the liability of the issuer or nominated person with respect\n\nto the letter-of-credit right as provided in Section 5-116 of this\n\ntitle.\n\n(c) This section does not apply to a security interest that is\n\nperfected only under subsection (d) of Section 1-9-308 of this\n\ntitle.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"5e8cf1feb5273cf3fc03024a9de75c96f48d60463c4efabf2d82e9492c6e3488","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-1-9-305","next":"us-ok/okla.-stat.-tit.-12a-12a-1-9-306a"},"notice":"GroundRules: Original legal text. Not legal advice."}