There Is a Newer Version
of
the Pennsylvania Consolidated Statutes
2012 Pennsylvania Consolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 91 - General Provisions
Section 9107 - Control of letter-of-credit right
§ 9107. 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 5114(c) (relating to recognition of assignment of
proceeds) or otherwise applicable law or practice.
Cross References. Section 9107 is referred to in sections
9203, 9207, 9208, 9314, 9329, 9601 of this title.
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