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2020 Alaska Statutes
Title 45. Trade and Commerce
Chapter 05. Letters of Credit
Sec. 45.05.115. Statute of limitations.
Universal Citation: AK Stat § 45.05.115 (2020)
An action to enforce a right or obligation arising under this chapter must be commenced within one year after the expiration date of the relevant letter of credit or one year after the cause of action accrues, whichever occurs later. A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach.
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