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2012 Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 9-A: TRANSACTIONS
11 §9-1107. Control of letter-of-credit right


11 ME Rev Stat § 9-1107 (2012 through 125th Legis) What's This?

Part 1: GENERAL PROVISIONS

Subpart 1: SHORT TITLE, DEFINITIONS AND GENERAL CONCEPTS

§9-1107. Control of letter-of-credit right

A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under section 5-1114, subsection (3) or other applicable law or practice. [2003, c. 510, Pt. A, §5 (AMD).]

SECTION HISTORY

1999, c. 699, §A2 (NEW). 1999, c. 699, §A4 (AFF). 2003, c. 510, §A5 (AMD).

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