West Virginia Statutes
§ 46-9-107 — Control of letter-of-credit right
West Virginia·Ch. 46 UNIFORM COMMERCIAL CODE·Art. 9 SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER
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 section 5-114(c) or otherwise applicable law or practice.
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Legislative History
2000 Reg. Sess., SB469
Nearby Sections
15
§ 46-1-101
Short titles§ 46-1-102
Scope of article§ 46-1-104
Construction against implied repeal§ 46-1-105
Severability§ 46-1-106
Use of singular and plural; gender§ 46-1-107
Section captions§ 46-1-109
Repealed. Acts, 2006 Reg. Sess., Ch. 247§ 46-1-201
General definitions§ 46-1-202
Notice; knowledge§ 46-1-204
Value§ 46-1-205
Reasonable time; seasonableness§ 46-1-206
Presumptions