North Dakota Code 41-09-07 – (9-107) Control of letter-of-credit right
Current as of: 2023 | Check for updates
|
Other versions
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 3 of section 41-05-14 or otherwise applicable law or practice.
Terms Used In North Dakota Code 41-09-07
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49