Statutes, codes, and regulations
Mississippi Code 1972
Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTSChapter 9 - UNIFORM COMMERCIAL CODE-SECURED TRANSACTIONSPart 1 - GENERAL PROVISIONS
Subpart 1 - SHORT TITLE, DEFINITIONS, AND GENERAL CONCEPTS
Section 75-9-107 - Control of letter-of-credit right

Miss. Code § 75-9-107

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Current through the 2024 Regular Session
Section 75-9-107 - 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 Section 75-5-114(c) or otherwise applicable law or practice.

Miss. Code § 75-9-107

Former 1972 Code § 75-9-107 [Codes, 1942, § 41A:9-107; Laws, 1966, ch. 316, § 9-107] is now found in comparable provisions enacted at § 75-9-102 by Laws, 2001, ch. 495, § 1. Present § 75-9-107 derived from 1972 Code § 75-8-106 [Laws, 1996, ch. 468, § 7] and was enacted by Laws, 2001, ch. 495, § 1, eff. 1/1/2002.