§ 5-115. Statute of Limitations
Oklahoma Statutes AnnotatedTitle 12A. Commercial Code
12A Okl.St.Ann. § 5-115
§ 5-115. Statute of Limitations
Statute of Limitations.
An action to enforce a right or obligation arising under this article must be commenced within one (1) year after the expiration date of the relevant letter of credit or one (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
Laws 1996, c. 56, § 14, eff. Jan. 1, 1997.
12A Okl. St. Ann. § 5-115, OK ST T. 12A § 5-115
Current with emergency effective legislation through Chapter 106 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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