There is a newer version of the Code of Virginia
2014 Virginia Code
Title 8.9A - Commercial Code - Secured Transactions
§ 8.9A-107. Control of letter-of-credit right
VA Code § 8.9A-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 subsection (c) of ยง 8.5A-114 or otherwise applicable law or practice.
2000, c. 1007.
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