Ky. Rev. Stat. § 355.9-107
Current through Acts Received April 24, 2024
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 KRS 355.5-114(3) or otherwise applicable law or practice.
KRS 355.9-107
Repealed and reenacted 2000, Ky. Acts ch. 408, sec. 27, effective7/1/2001. -- Created 1958 Ky. Acts ch. 77, sec. 9-107, effective 7/1/1960.