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Code · Wisconsin · Chapter 409 — Uniform commercial code — secured transactions

409.107 Control of letter-of-credit right.

58 words·~1 min read·/wi/chapter-409/409-107

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409.107 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 ch. 405 or otherwise applicable law or practice.
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