2022 Indiana Code
Title 26. Commercial Law
Article 1. Uniform Commercial Code
Chapter 5.1. Letters of Credit
26-1-5.1-101. Short Title; Scope

Universal Citation:
IN Code § 26-1-5.1-101 (2022)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Sec. 101. (a) IC 26-1-5.1 shall be known and may be cited as Uniform Commercial Code ─ Letters of Credit.

(b) IC 26-1-5.1 applies to a letter of credit that is issued after June 30, 1996, and 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, 1996.

(c) A transaction arising out of or associated with a letter of credit that was issued before July 1, 1996, and the rights, obligations, and interests flowing from that transaction:

(1) are governed by IC 26-1-5 (before its repeal) and any other law amended by senate enrolled act 193 of the 1996 regular session of the general assembly as if repeal or amendment had not occurred; and

(2) may be terminated, completed, consummated, or enforced under IC 26-1-5 (before its repeal) or other law (before its amendment by senate enrolled act 193 of the 1996 regular session of the general assembly).

As added by P.L.183-1996, SEC.4.

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