There is a newer version of the Arizona Revised Statutes
2016 Arizona Revised Statutes
Title 47 - Uniform Commercial Code
§ 47-9107 Control of letter-of-credit right
AZ Rev Stat § 47-9107 (2016) What's This?
47-9107. Control of letter-of-credit right
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 any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under section 47-5114, subsection C or otherwise applicable law or practice.
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