Montana Statutes
§ 30-9A-107 — Control Of Letter-Of-Credit Right
Montana·Title 30 TRADE AND COMMERCE·Ch. 9A UNIFORM COMMERCIAL CODE SECURED TRANSACTIONS·Part 1 General Provisions
30-9A-107 . Control of letter-of-credit right. A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer of any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under 30-5-134 (3) or otherwise applicable law or practice.
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Legislative History
En. Sec. 6, Ch. 305, L. 1999; Sec. 30-9-127 , MCA 1999; redes. 30-9A-107 by Code Commissioner, 2001.
Nearby Sections
15
§ 30-9A-101
Short Title§ 30-9A-102
Definitions And Index Of Definitions§ 30-9A-104
Control Of Deposit Account§ 30-9A-106
Control Of Investment Property§ 30-9A-107
Control Of Letter-Of-Credit Right§ 30-9A-107A
Control Of Controllable Electronic Record, Controllable Account, Or Controllable Payment Intangible§ 30-9A-108
Sufficiency Of Description§ 30-9A-109
Scope§ 30-9A-201
General Effectiveness Of Security Agreement§ 30-9A-202
Title To Collateral Immaterial