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UTAH CODE (Last Updated: January 16, 2015) |
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Title 70A. Uniform Commercial Code |
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Chapter 9a. Uniform Commercial Code - Secured Transactions |
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Part 1. General Provisions |
§ 70A-9a-107. Control of right.
Latest version.
- 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 70A-5-114(3) or otherwise applicable law or practice.
Enacted by Chapter 252, 2000 General Session