Minnesota § 336.9-306 336.9-306 LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN LETTER OF CREDIT RIGHTS.

Minnesota Statutes

§ 336.9-306 — 336.9-306 LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN LETTER OF CREDIT RIGHTS.

Minnesota § 336.9-306

PartTRADE REGULATIONS, CONSUMER PROTECTION

Ch. 336UNIFORM COMMERCIAL CODE

This text of Minnesota § 336.9-306 (336.9-306 LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN LETTER OF CREDIT RIGHTS.) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 336.9-306 (2026).

Text

(a)Governing law: issuer's or nominated person's jurisdiction.Subject to subsection (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)Issuer's or nominated person's jurisdiction.For purposes of this part, 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 section336.5-116.

(c)When section not applicable.This section does not apply to a security interest that is perfected only under section336.9-308(

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(a)Governing law: issuer's or nominated person's jurisdiction.Subject to subsection (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)Issuer's or nominated person's jurisdiction.For purposes of this part, 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 section336.5-116.
(c)When section not applicable.This section does not apply to a security interest that is perfected only under section336.9-308(d).