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2018 Indiana Code
TITLE 26. Commercial Law
ARTICLE 1. UNIFORM COMMERCIAL CODE
CHAPTER 5.1. Letters of Credit
26-1-5.1-115. Statute of limitations
Universal Citation: IN Code § 26-1-5.1-115 (2018)
IC 26-1-5.1-115 Statute of limitations
Sec. 115. An action to enforce a right or obligation arising under IC 26-1-5.1 must be commenced within one (1) year after the expiration date of the relevant letter of credit or one (1) year after the cause of action accrues, whichever occurs later. A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach.
As added by P.L.183-1996, SEC.4.
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