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41-09-07. (9-107) Control of letter-of-credit right

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ND Code › Title 41 › Chapter 41-09 › Section 41-09-07

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

Text

41-09-07. (9-107) Control of letter-of-credit right

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.

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.

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41-09-07. (9-107) Control of letter-of-credit right · N.D. Cent. Code § 41-09-07 | Frix