There is a newer version of the New York Consolidated Laws
2006 New York Code - Applicability.
Section 5--119. Applicability.
This article applies to a letter of credit that is issued on or after
the effective date of this article. This article does not apply to a
transaction, event, obligation, or duty arising out of or associated
with a letter of credit that was issued before the effective date of
this article.
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