Wyoming § 34.1-5-106 Issuance, amendment, cancellation, and
duration

Wyoming Statutes

§ 34.1-5-106 — Issuance, amendment, cancellation, and duration

Wyoming·Title 34.1 Uniform Commercial Code·Art. 4 BANK DEPOSITS AND COLLECTIONS

(a)A letter of credit is issued and becomes enforceable according to its terms against the issuer when the issuer sends or otherwise transmits it to the person requested to advise or to the beneficiary. A letter of credit is revocable only if it so provides.

(b)After a letter of credit is issued, rights and obligations of a beneficiary, applicant, confirmer, and issuer are not affected by an amendment or cancellation to which that person has not consented except to the extent the letter of credit provides that it is revocable or that the issuer may amend or cancel the letter of credit without that consent.

(c)If there is no stated expiration date or other provision that determines its duration, a letter of credit expires one (1) year after its stated date of issuance or, if none is stat

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(a) A letter of credit is issued and becomes enforceable
according to its terms against the issuer when the issuer sends
or otherwise transmits it to the person requested to advise or
to the beneficiary. A letter of credit is revocable only if it
so provides.
(b) After a letter of credit is issued, rights and
obligations of a beneficiary, applicant, confirmer, and issuer
are not affected by an amendment or cancellation to which that
person has not consented except to the extent the letter of
credit provides that it is revocable or that the issuer may
amend or cancel the letter of credit without that consent.
(c) If there is no stated expiration date or other
provision that determines its duration, a letter of credit
expires one (1) year after its stated date of issuance or, if
none is stated, after the date on which it is issued.
(d) A letter of credit that states that it is perpetual
expires five (5) years after its stated date of issuance, or if
none is stated, after the date on which it is issued.

Wyoming § 34.1-5-106 (Issuance, amendment, cancellation, and duration) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.