Tennessee Code 47-9-107 – Control of letter-of-credit right
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Tennessee Code 47-9-107
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
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 § 47-5-114(c) or otherwise applicable law or practice.