North Dakota Statutes
§ 41-09-07 — (9-107) Control of letter-of-credit right
North Dakota § 41-09-07
This text of North Dakota § 41-09-07 ((9-107) Control of letter-of-credit right) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.D. Cent. Code § 41-09-07 (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 subsection 3 of section
41-05-14 or otherwise applicable law or practice.
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Related
Thet Mah & Associates, Inc. v. First Bank of North Dakota (NA), Minot
336 N.W.2d 134 (North Dakota Supreme Court, 1983)
In Re Janz
67 B.R. 553 (D. North Dakota, 1986)
In Re Wandler
77 B.R. 735 (D. North Dakota, 1987)
Nearby Sections
15
§ 41-01-01
(1-101) Short titles§ 41-01-02
(1-102) Scope of chapter§ 41-01-05
(1-105) Severability§ 41-01-07
(1-107) Section captions§ 41-01-09
(1-201) General definitions§ 41-01-10
(1-202) Notice - Knowledge§ 41-01-12
(1-204) Value§ 41-01-13
(1-205) Reasonable time - Seasonableness§ 41-01-14
(1-206) PresumptionsCite This Page — Counsel Stack
Bluebook (online)
North Dakota § 41-09-07, Counsel Stack Legal Research, https://law.counselstack.com/statute/nd/41-09-07.