Michigan Compiled Laws
Article 5 - Letters of Credit (440.5101...440.5118)
Section 440.5101 - Uniform Commercial Code—letters of Credit; Short Title of Article.

Sec. 5101.
This article may be cited as uniform commercial code—letters of credit.
History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1998, Act 488, Imd. Eff. Jan. 4, 1999

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 440 - Uniform Commercial Code

Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)

Article 5 - Letters of Credit (440.5101...440.5118)

Section 440.5101 - Uniform Commercial Code—letters of Credit; Short Title of Article.

Section 440.5102 - Definitions.

Section 440.5103 - Letters of Credit; Scope of Article.

Section 440.5104 - Issuance; Authentication.

Section 440.5105 - Consideration.

Section 440.5106 - Credit; Issuance; Enforcement; Revocation; Expiration.

Section 440.5107 - Confirmation; Rights and Obligations; Request to Advise; Notice to Transferee Beneficiary.

Section 440.5108 - Honoring or Dishonoring Presentation.

Section 440.5109 - Forged or Fraudulent Document; Injunction; Findings of Court.

Section 440.5110 - Warranties on Presentment or Transfer.

Section 440.5111 - Wrongful Dishonor, Repudiation, or Breach; Rights of Claimant or Applicant; Liability of Issuer, Nominated Person, or Adviser; Attorney Fees; Liquidated Damages.

Section 440.5112 - Right to Draw or Demand Performance Under Letter of Credit; Transfer.

Section 440.5113 - Rights of Successor Beneficiary.

Section 440.5114 - Proceeds of Letter of Credit.

Section 440.5115 - Commencement of Action.

Section 440.5116 - Jurisdiction; Forum.

Section 440.5117 - Rights of Subrogation.

Section 440.5118 - Document Presented Under Letter of Credit; Security Interest of Issuer or Nominated Person.