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2019 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 079 - Secured Transactions
Section 79.0107 - UCC 9-107. Control of letter-of-credit right.
Universal Citation: OR Rev Stat § 79.0107 (2019)
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 ORS 75.1140 (3) or otherwise applicable law or practice. [2001 c.445 §7]
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