Connecticut General Statutes
Title 42a - Uniform Commercial Code
Article 5 - Letters of Credit

Section 42a-5-101. - Short title: Uniform Commercial Code–Letters of Credit. - This article may be cited as “Uniform Commercial Code–Letters of...

Section 42a-5-102. - Definitions. - (a) In this article: (1) “Adviser” means a person who,...

Section 42a-5-103. - Scope. - (a) This article applies to letters of credit and to...

Section 42a-5-104. - Formal requirements. - A letter of credit, confirmation, advice, transfer, amendment or cancellation...

Section 42a-5-105. - Consideration. - Consideration is not required to issue, amend, transfer or cancel...

Section 42a-5-106. - Issuance, amendment, cancellation and duration. - (a) A letter of credit is issued and becomes enforceable...

Section 42a-5-107. - Confirmer, nominated person and adviser. - (a) A confirmer is directly obligated on a letter of...

Section 42a-5-108. - Issuer's rights and obligations. - (a) Except as otherwise provided in section 42a-5-109, an issuer...

Section 42a-5-109. - Fraud and forgery. - (a) If a presentation is made that appears on its...

Section 42a-5-110. - Warranties. - (a) If its presentation is honored, the beneficiary warrants: (1)...

Section 42a-5-111. - Remedies. - (a) If an issuer wrongfully dishonors or repudiates its obligation...

Section 42a-5-112. - Transfer of letter of credit. - (a) Except as otherwise provided in section 42a-5-113, unless a...

Section 42a-5-113. - Transfer by operation of law. - (a) A successor of a beneficiary may consent to amendments,...

Section 42a-5-114. - Assignment of proceeds. - (a) In this section, “proceeds of a letter of credit”...

Section 42a-5-115. - Statute of limitations. - An action to enforce a right or obligation arising under...

Section 42a-5-116. - Choice of law and forum. - (a) The liability of an issuer, nominated person or adviser...

Section 42a-5-117. - Subrogation of issuer, applicant and nominated person. - (a) An issuer that honors a beneficiary's presentation is subrogated...

Section 42a-5-118. - Security interest of issuer or nominated person. - (a) An issuer or nominated person has a security interest...

Section 42a-5-118a. - Applicability. - Public act 96-198* applies to a letter of credit that...

Section 42a-5-119. - Savings clause. - A transaction arising out of or associated with a letter...