There is a newer version of the Connecticut General Statutes
2005 Connecticut Code - Sec. 42a-5-112. Transfer of letter of credit.
Sec. 42a-5-112. Transfer of letter of credit. (a) Except as otherwise provided in
section 42a-5-113, unless a letter of credit provides that it is transferable, the right of a
beneficiary to draw or otherwise demand performance under a letter of credit may not
be transferred.
(1959, P.A. 133, S. 5-112; P.A. 96-198, S. 12.)
History: P.A. 96-198 entirely replaced former provisions re the time allowed for honor or rejection, the withholding of honor or rejection by consent and the definition of "presenter" with provisions re the transfer of a letter of credit, in part a restatement of Sec. 42a-5-116(1), revised to 1995.
See Secs. 42a-5-102(a)(12) and 42a-5-108(b), (c) and (h) for successor provisions to Sec. 42a-5-112, revised to 1995, re time allowed for honor or rejection, withholding honor or rejection by consent and the definition of "presenter".
Cited. 173 C. 492, 498.
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