Alabama Statutes
§ 7-9A-107 — Control of Letter-of-Credit Right
Alabama § 7-9A-107
JurisdictionAlabama
Title 7Commercial Code
Art. 9ASecured Transactions
Div. 1Short Title, Definitions, and General Concepts
This text of Alabama § 7-9A-107 (Control of Letter-of-Credit Right) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ala. Code § 7-9A-107 (2026).
Text
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 Section 7-5-114(c) or otherwise applicable law or practice.
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Legislative History
(Act 2001-481, p. 647, §1.)
Nearby Sections
15
§ 7-1-101
Short Titles§ 7-1-102
Scope of Article§ 7-1-104
Construction Against Implied Repeal§ 7-1-105
Severability§ 7-1-106
Use of Singular and Plural; Gender§ 7-1-107
Section Captions§ 7-1-109
Section Captions§ 7-1-201
General Definitions§ 7-1-202
Notice; Knowledge§ 7-1-204
Value§ 7-1-205
Reasonable Time; Seasonableness§ 7-1-206
PresumptionsCite This Page — Counsel Stack
Bluebook (online)
Alabama § 7-9A-107, Counsel Stack Legal Research, https://law.counselstack.com/statute/al/7-9A-107.