2021 Georgia Code
Title 11 - Commercial Code
Article 5 - Letters of Credit
- § 11-5-101. Short Title
- § 11-5-102. Definitions
- § 11-5-103. Scope
- § 11-5-104. Formal Requirements
- § 11-5-105. Consideration
- § 11-5-106. Issuance, Amendment, Cancellation, and Duration
- § 11-5-107. Confirmer, Nominated Person, and Adviser
- § 11-5-108. Issuer's Rights and Obligations
- § 11-5-109. Fraud and Forgery
- § 11-5-110. Warranties
- § 11-5-111. Remedies
- § 11-5-112. Transfer of Letter of Credit
- § 11-5-113. Transfer by Operation of Law
- § 11-5-114. Assignment of Proceeds
- § 11-5-115. Statute of Limitations
- § 11-5-116. Choice of Law and Forum
- § 11-5-117. Subrogation of Issuer, Applicant, and Nominated Person
- § 11-5-118. Security Interest of Issuer or Nominated Person
- Ga. L. 2002, p. 995, § 1, effective July 1, 2002, repealed the Code sections formerly codified at Article 5 and enacted the current Article 5. The former Article 5 consisted of Code Sections 11-5-101 through 11-5-118, relating to letters of credit, and was based on Code 1933 §§ 109A-5-101 through 116, enacted by Ga. L. 1962, p. 156, § 1; Ga. L. 1963, p. 188, § 14; Ga. L. 1978, p. 1081, § 6; Ga. L. 1992, p. 2626, § 2; Ga. L. 1998, p. 1323, § 18; Ga. L. 2001, p. 362, § 14.
Ga. L. 2002, p. 995, § 8, not codified by the General Assembly, provides that: "This Act shall become effective July 1, 2002, and shall apply to a letter of credit that is issued on or after July 1, 2002. This Act does not apply to a transaction, event, obligation, or duty arising out of or associated with a letter of credit that was issued before July 1, 2002."
