Section 515.406 - Drafts under irrevocable letters of credit; documentary draftsSection 515.201 prohibits the presentation, acceptance or payment of:
(a) Drafts or other orders for payment drawn under irrevocable letters of credit issued in favor or on behalf of any designated national;(b) Drafts or other orders for payment, in which any designated national has on or since the "effective date" had any interest, drawn under any irrevocable letter of credit; and(c) Documentary drafts in which any designated national has on or since the "effective date" had any interest.