Louisiana Statutes
§ 10:9-107 — Control of letter-of-credit right
Louisiana § 10:9-107
JurisdictionLouisiana
Title 10Commercial Laws
This text of Louisiana § 10:9-107 (Control of letter-of-credit right) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
La. Stat. Ann. § 10:9-107 (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 R.S. 10:5-114(c) or otherwise applicable law or practice.
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Related
First Nat. Bank v. Beckwith MacHinery Co.
650 So. 2d 1148 (Supreme Court of Louisiana, 1995)
Young v. Amer Honda Fin Corp
(Fifth Circuit, 2000)
Legislative History
Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001.
Nearby Sections
15
§ 10:9-101
§ 10:9-101§ 10:9-102
Definitions and index of definitions§ 10:9-104
Control of deposit account§ 10:9-106
Control of investment property§ 10:9-107
Control of letter-of-credit right§ 10:9-107.1
Control over life insurance policy§ 10:9-107.2
Control conditioned on default§ 10:9-108
Sufficiency of description§ 10:9-109
Scope§ 10:9-201
§ 10:9-201§ 10:9-202
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Bluebook (online)
Louisiana § 10:9-107, Counsel Stack Legal Research, https://law.counselstack.com/statute/la/10%3A9-107.