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Statutes > Ohio Laws > Title [13] XIII COMMERCIAL TRANSACTIONS - OHIO UNIFORM COMMERCIAL CODE > Chapter 1309: SECURED TRANSACTIONS > 1309.107 Control of letter-of-credit right - UCC 9-107.

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OHIO STATUTES AND CODES

1309.107 Control of letter-of-credit right - UCC 9-107.

1309.107 Control of letter-of-credit right - UCC 9-107.

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 division (C) of section 1305.13 of the Revised Code or otherwise applicable law or practice.

Effective Date: 07-01-2001

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