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2019 Revised Code of Washington
Title 62A - Uniform Commercial Code
Chapter 62A.9A - Secured Transactions; Sales of Accounts, Contract Rights and Chattel Paper.
62A.9A-107 Control of letter-of-credit right.
Universal Citation: WA Rev Code § 62A.9A-107 (2019)
RCW 62A.9A-107 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 RCW 62A.5-114 (c) or otherwise applicable law or practice.
[ 2012 c 214 § 1716; 2001 c 32 § 19; 2000 c 250 § 9A-107.]
NOTES:
Application—Savings—2012 c 214: See notes following RCW 62A.1-101.
Effective date—2001 c 32: See note following RCW 62A.9A-102.
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