New York § 9-107 Control of Letter-of-credit Right

New York Statutes

§ 9-107 — Control of Letter-of-credit Right

New York § 9-107

JurisdictionNew York

Law UCCUniform Commercial Code

Part 1General Provisions

Subpart 1Short Title, Definitions, and General Concepts

Art. 9Secured Transactions

This text of New York § 9-107 (Control of Letter-of-credit Right) 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 § 9-107 (2026).

Text

Section 9--107. Control of Letter-of-credit Right.\n  A secured party has control of a letter-of-credit right to the extent\nof any right to payment or performance by the issuer or any nominated\nperson if the issuer or nominated person has consented to an assignment\nof proceeds of the letter of credit under Section 5--114(c) or otherwise\napplicable law or practice.\n

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