§ 6A-9-107. Control of letter-of-credit.
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 § 6A-5-114(c) or otherwise applicable law or practice.
History of Section.P.L. 2000, ch. 182, § 6; P.L. 2000, ch. 420, § 6.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-9 - Secured Transactions
Subpart 1 - Short Title, Definitions, and General Concepts
Section 6A-9-101. - Short title.
Section 6A-9-104. - Control of deposit account.
Section 6A-9-105. - Control of electronic chattel paper.
Section 6A-9-106. - Control of investment property.