Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE I > Chapter 2 - Death

• Applicant: means a person at whose request or for whose account a letter of credit is issued. See Louisiana Revised Statutes 10:5-102
• Beneficiary: means a person who under the terms of a letter of credit is entitled to have its complying presentation honored. See Louisiana Revised Statutes 10:5-102
• Issuer: means a financial institution or other person that issues a letter of credit, but does not include an individual who makes an engagement for personal, family, or household purposes. See Louisiana Revised Statutes 10:5-102
• Letter of credit: means a definite undertaking that satisfies the requirements of La. See Louisiana Revised Statutes 10:5-102
• Nominated person: means a person whom the issuer (i) designates or authorizes to pay, accept, negotiate, or otherwise give value under a letter of credit and (ii) undertakes by agreement or custom and practice to reimburse. See Louisiana Revised Statutes 10:5-102