2011 Nevada Revised Statutes
Chapter 104 - Uniform Commercial Code—Original Articles
NRS 104.9306 - Determination of law governing perfection and priority of security interests in letter-of-credit rights.
1. Subject to subsection 3, the law of the issuer s jurisdiction or a nominated person s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a letter-of-credit right if the issuer s jurisdiction or nominated person s jurisdiction is a state.
2. For purposes of this part, an issuer s jurisdiction or nominated person s jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with respect to the letter-of-credit right as provided in NRS 104.5116.
3. This section does not apply to a security interest that is perfected only under subsection 4 of NRS 104.9308.
(Added to NRS by 1999, 303)
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