Alaska Statutes 45.29.107 – Control of letter-of-credit right
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 45.29.107
- person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
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 a nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under Alaska Stat. § 45.05.114(c) or otherwise applicable law or practice.