2023 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 (2023)

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.

Disclaimer: These codes may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.