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§ 1-9-107. Control of letter-of-credit right

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 9. Secured Transactions (Refs & Annos)
Part 1. General Provisions
12A Okl.St.Ann. § 1-9-107
§ 1-9-107. Control of letter-of-credit right
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 subsection (c) of Section 5-114 of this title or otherwise applicable law or practice.

Credits

Laws 2000, c. 371, § 7, eff. July 1, 2001.
12A Okl. St. Ann. § 1-9-107, OK ST T. 12A § 1-9-107
Current with emergency effective legislation through Chapter 378 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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