Maryland Statutes
§ 5-112
Maryland § 5-112
This text of Maryland § 5-112 is published on Counsel Stack Legal Research, covering Maryland primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Md. Code Ann., Commercial Law § 5-112 (2026).
Text
(a)Except as otherwise provided in § 5-113 of this title, unless a letter of credit provides that it is transferable, the right of a beneficiary to draw or otherwise demand performance under a letter of credit may not be transferred.
(b)Even if a letter of credit provides that it is transferable, the issuer may refuse to recognize or carry out a transfer if:
(1)The transfer would violate applicable law; or
(2)The transferor or transferee has failed to comply with any requirement stated in the letter of credit or any other requirement relating to transfer imposed by the issuer which is within the standard practice referred to in § 5-108(e) of this title or is otherwise reasonable under the circumstances.
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Cite This Page — Counsel Stack
Bluebook (online)
Maryland § 5-112, Counsel Stack Legal Research, https://law.counselstack.com/statute/md/gcl/5-112.