400.9-107. Control of letter-of-credit right. - Missouri Statutes

Control of letter-of-credit right.

400.9-107. A secured party has control of a letter-of-credit right tothe extent of any right to payment or performance by the issuer or anynominated person if the issuer or nominated person has consented to anassignment of proceeds of the letter of credit under section 400.5-114(c)or otherwise applicable law or practice.

(L. 1963 p. 503 § 9-107, A.L. 2001 S.B. 288)

Effective 7-01-01