Arkansas Code
Subtitle 1 - Uniform Commercial Code
Chapter 5 - Letters of Credit

§ 4-5-101. Short title - This chapter may be cited as Uniform Commercial Code—Letters of...

§ 4-5-102. Definitions - (a) In this chapter: (1) “Adviser” means a person who,...

§ 4-5-103. Scope - (a) This chapter applies to letters of credit and to...

§ 4-5-104. Formal requirements - A letter of credit, confirmation, advice, transfer, amendment, or cancellation...

§ 4-5-105. Consideration - Consideration is not required to issue, amend, transfer, or cancel...

§ 4-5-106. Issuance, amendment, cancellation, and duration - (a) A letter of credit is issued and becomes enforceable...

§ 4-5-107. Confirmer, nominated person, and adviser - (a) A confirmer is directly obligated on a letter of...

§ 4-5-108. Issuer's rights and obligations - (a) Except as otherwise provided in § 4-5-109, an issuer...

§ 4-5-109. Fraud and forgery - (a) If a presentation is made that appears on its...

§ 4-5-110. Warranties - (a) If its presentation is honored, the beneficiary warrants: (1)...

§ 4-5-111. Remedies - (a) If an issuer wrongfully dishonors or repudiates its obligation...

§ 4-5-112. Transfer of letter of credit - (a) Except as otherwise provided in § 4-5-113, unless a...

§ 4-5-113. Transfer by operation of law - (a) A successor of a beneficiary may consent to amendments,...

§ 4-5-114. Assignment of proceeds - (a) In this section, “proceeds of a letter of credit”...

§ 4-5-115. Statute of limitations - An action to enforce a right or obligation arising under...

§ 4-5-116. Choice of law and forum - (a) The liability of an issuer, nominated person, or adviser...

§ 4-5-117. Subrogation of issuer, applicant, and nominated person - (a) An issuer that honors a beneficiary's presentation is subrogated...

§ 4-5-118. Security interest of issuer or nominated person - (a) An issuer or nominated person has a security interest...

§ 4-5-119. Applicability - This chapter applies to a letter of credit that is...

§ 4-5-120. Savings clause - A transaction arising out of or associated with a letter...