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2014 Tennessee Code
Title 47 - Commercial Instruments And Transactions
Chapter 9 - Secured Transactions
Part 1 - General Provisions
1. Short Title, Definitions, and General Concepts
§ 47-9-107 - Control of letter-of-credit right.

TN Code § 47-9-107 (2014) What's This?

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 ยง 47-5-114(c) or otherwise applicable law or practice.

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