2019 Alaska Statutes
Title 45. Trade and Commerce
Chapter 29. Secured Transactions
Article 1. General Provisions.
Sec. 45.29.107. Control of letter-of-credit right.

Universal Citation: AK Stat § 45.29.107 (2019)

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 a nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under AS 45.05.114(c) or otherwise applicable law or practice.

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