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Terms Used In Iowa Code 524.911

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
524.911 Letters of credit.
A state bank shall have the power to issue, advise, and confirm letters of credit authorizing
a beneficiary thereof to draw on or demand payment of the state bank or its correspondent banks.
[C71, 73, 75, 77, 79, 81, §524.911]
2016 Acts, ch 1011, §101