28-9-107. CONTROL OF LETTER OF CREDIT RIGHT. 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 section 28-5-114(3) or otherwise applicable law or practice.
History:
[28-9-107, added 2001, ch. 208, sec. 2, p. 720.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 9 - SECURED TRANSACTIONS
Section 28-9-101 - SHORT TITLE.
Section 28-9-102 - DEFINITIONS AND INDEX OF DEFINITIONS.
Section 28-9-104 - CONTROL OF DEPOSIT ACCOUNT.
Section 28-9-105 - CONTROL OF ELECTRONIC CHATTEL PAPER.
Section 28-9-106 - CONTROL OF INVESTMENT PROPERTY.
Section 28-9-107 - CONTROL OF LETTER OF CREDIT RIGHT.
Section 28-9-108 - SUFFICIENCY OF DESCRIPTION.
Section 28-9-110 - SECURITY INTERESTS ARISING UNDER CHAPTER 2 OR 12, TITLE 28, IDAHO CODE.