2025 Code of Georgia
Title 11 - Commercial Code (Arts. 1 — 13)
Article 5 - Letters of Credit (§§ 11-5-101 — 11-5-118)
Annotations
Notes
Editor’s notes.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 L. 2002, p. 995, § 1, effective July 1, 2002, repealed the Code sections formerly codified at Article 5 and enacted the current Article 5.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.”
Research References & Practice Aids
Hierarchy Notes:O. C. G. A. Title 11
- § 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
