California § 9306. 9306. (Repealed and added by Stats. 1999, Ch. 991, Sec. 35.)

California Statutes

§ 9306. — 9306. (Repealed and added by Stats. 1999, Ch. 991, Sec. 35.)

California § 9306.

Code COMCommercial Code - COM

Div. 9.DIVISION 9. SECURED TRANSACTIONS

Ch. 3.CHAPTER 3. Perfection and Priority

This text of California § 9306. (9306. (Repealed and added by Stats. 1999, Ch. 991, Sec. 35.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Cal. Commercial Code - COM Code § 9306. (2026).

Text

(a)Subject to subdivision (c), the local law of the issuer’s jurisdiction or a nominated person’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a letter-of-credit right if the issuer’s jurisdiction or nominated person’s jurisdiction is a state.

(b)For purposes of this chapter, an issuer’s jurisdiction or nominated person’s jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with respect to the letter-of-credit right as provided in Section 5116.

(c)This section does not apply to a security interest that is perfected only under subdivision (d) of Section 9308.

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(a)
Subject to subdivision (c), the local law of the issuer’s jurisdiction or a nominated person’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a letter-of-credit right if the issuer’s jurisdiction or nominated person’s jurisdiction is a state.
(b)
For purposes of this chapter, an issuer’s jurisdiction or nominated person’s jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with respect to the letter-of-credit right as provided in Section 5116.
(c)
This section does not apply to a security interest that is perfected only under subdivision (d) of Section 9308.