IC 26-1-9.1-107 — Control of letter-of-credit right
Chapter 9.1. Secured Transactions
Section text
Sec. 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 IC 26-1-5.1-114(c) or otherwise applicable law or practice.
As added by P.L.57-2000, SEC.45.
Source: official publisher (2026 edition)