Iowa Code 554.9107 – Control of letter-of-credit right
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Terms Used In Iowa Code 554.9107
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
554.9107 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 § 554.5114, subsection 3, or otherwise applicable law or practice.
2000 Acts, ch 1149, §7, 185, 187
Referred to in §554.9203, 554.9207, 554.9208, 554.9314, 554.9329, 554.9601
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 § 554.5114, subsection 3, or otherwise applicable law or practice.
2000 Acts, ch 1149, §7, 185, 187
Referred to in §554.9203, 554.9207, 554.9208, 554.9314, 554.9329, 554.9601