SECTION 679.1071. Control of letter-of-credit right.

Latest version.

1A 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 s. 47675.114(3) 48or otherwise applicable law or practice.

History.-s. 1, ch. 2001-198.

Bills Cite this Section:

None

Implemented Rule (1):

2-30.001. Written Statement Explaining Consumer Rights Under Chapter 681, Florida Statutes; Hearings Before Florida New Motor Vehicle Arbitration Board

Cited by Court Cases:

None

                    
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