Alaska Statutes
Title 45. Trade and Commerce
Chapter 05. Letters of Credit

Sec. 45.05.101. Short title. - This chapter shall be known and may be cited as...

Sec. 45.05.102. Definitions. - (a) In this chapter, (1) “adviser” means a person who,...

Sec. 45.05.103. Scope. - (a) This chapter applies to letters of credit and to...

Sec. 45.05.104. Formal requirements. - A letter of credit, confirmation, advice, transfer, amendment, or cancellation...

Sec. 45.05.105. Consideration. - Consideration is not required to issue, amend, transfer, or cancel...

Sec. 45.05.106. Issuance, amendment, cancellation, and duration. - (a) A letter of credit is issued and becomes enforceable...

Sec. 45.05.107. Confirmer, nominated person, and adviser. - (a) A confirmer is directly obligated on a letter of...

Sec. 45.05.108. Issuer's rights and obligations. - (a) Except as otherwise provided in AS 45.05.109, an issuer...

Sec. 45.05.109. Fraud and forgery. - (a) If a presentation is made that appears on its...

Sec. 45.05.110. Warranties. - (a) If its presentation is honored, the beneficiary warrants to...

Sec. 45.05.111. Remedies. - (a) If an issuer wrongfully dishonors or repudiates its obligation...

Sec. 45.05.112. Transfer of letter of credit. - (a) Except as otherwise provided in AS 45.05.113, unless a...

Sec. 45.05.113. Transfer by operation of law. - (a) A successor of a beneficiary may consent to amendments,...

Sec. 45.05.114. Assignment of proceeds. - (a) In this section, “proceeds of a letter of credit”...

Sec. 45.05.115. Statute of limitations. - An action to enforce a right or obligation arising under...

Sec. 45.05.116. Choice of law and forum. - (a) The liability of an issuer, nominated person, or adviser...

Sec. 45.05.117. Subrogation of issuer, applicant, and nominated person. - (a) An issuer who honors a beneficiary's presentation is subrogated...

Sec. 45.05.118. Security interest of issuer or nominated person. - (a) An issuer or nominated person has a security interest...