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§ 5-115. Statute of limitations

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 5. Letters of Credit (Refs & Annos)
MD Code, Commercial Law, § 5-115
§ 5-115. Statute of limitations
An action to enforce a right or obligation arising under this article must be commenced within 1 year after the expiration date of the relevant letter of credit or 1 year after the cause of action accrues, whichever occurs later. A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach.

Credits

Added by Acts 1997, c. 652, § 2, eff. Oct. 1, 1997.
MD Code, Commercial Law, § 5-115, MD COML § 5-115
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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