Montana § 30-5-132 Transfer Of Letter Of Credit

Montana Statutes

§ 30-5-132 — Transfer Of Letter Of Credit

Montana § 30-5-132

Title 30TRADE AND COMMERCE

Ch. 5UNIFORM COMMERCIAL CODE LETTERS OF CREDIT

Part 1Letters of Credit

This text of Montana § 30-5-132 (Transfer Of Letter Of Credit) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 30-5-132 (2026).

Text

30-5-132 . Transfer of letter of credit.

(1)Except as otherwise provided in 30-5-133 , 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.

(2)Even if a letter of credit provides that it is transferable, the issuer may refuse to recognize or carry out a transfer if:

(a)the transfer would violate applicable law; or

(b)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 30-5-128 (5) or is otherwise reasonable under the circumstances.

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30-5-132 . Transfer of letter of credit. (1) Except as otherwise provided in 30-5-133 , 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.
(2) Even if a letter of credit provides that it is transferable, the issuer may refuse to recognize or carry out a transfer if:
(a) the transfer would violate applicable law; or
(b) 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 30-5-128 (5) or is otherwise reasonable under the circumstances.