A transaction arising out of or associated with a letter of credit that was issued before the effective date of this article and the rights, obligations, and interests flowing from that transaction are governed by any statute or other law amended or repealed by this article as if repeal or amendment had not occurred and may be terminated, completed, consummated, or enforced under that statute or other law.
(Apr. 9, 1997, D.C. Law 11-238, § 2, 44 DCR 923.)
1981 Ed., § 28:5-119.
Structure District of Columbia Code
Title 28 - Commercial Instruments and Transactions. [Enacted title]
Subtitle I - Uniform Commercial Code
§ 28:5–104. Formal requirements
§ 28:5–106. Issuance, amendment, cancellation, and duration
§ 28:5–107. Confirmer, nominated person, and adviser
§ 28:5–108. Issuer’s rights and obligations
§ 28:5–112. Transfer of letter of credit
§ 28:5–113. Transfer by operation of law
§ 28:5–114. Assignment of proceeds
§ 28:5–115. Statute of limitations
§ 28:5–116. Choice of law and forum
§ 28:5–117. Subrogation of issuer, applicant, and nominated person