New York Statutes
§ 5-112 — Transfer of letter of credit
New York § 5-112
This text of New York § 5-112 (Transfer of letter of credit) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.Y. Uniform Commercial Code § 5-112 (2026).
Text
Section 5--112. Transfer of letter of credit.\n (a) Except as otherwise provided in section 5--113, unless a letter of\ncredit provides that it is transferable, the right of a beneficiary to\ndraw or otherwise demand performance under a letter of credit may not be\ntransferred.\n (b) Even if a letter of credit provides that it is transferable, the\nissuer may refuse to recognize or carry out a transfer if:\n (1) the transfer would violate applicable law; or\n (2) the transferor or transferee has failed to comply with any\n requirement stated in the letter of credit or any other\n requirement relating to transfer imposed by the issuer which\n is within the standard practice referred to in subsection (e)\n of section 5--108 or is otherwis
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Nearby Sections
15
§ 5-101
Short title§ 5-102
Definitions§ 5-103
Scope§ 5-104
Formal requirements§ 5-105
Consideration§ 5-109
Fraud and forgery§ 5-110
Warranties§ 5-111
Remedies§ 5-112
Transfer of letter of credit§ 5-113
Transfer by operation of law§ 5-114
Assignment of proceeds§ 5-115
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Bluebook (online)
New York § 5-112, Counsel Stack Legal Research, https://law.counselstack.com/statute/ny/UCC/5-112.