☰ Revisor of Missouri

Title XXVI TRADE AND COMMERCE

Chapter 400

Effective - 28 Aug 1997 bottom

  400.5-112.  Transfer of letter of credit. — (a)  Except as otherwise provided in section 400.5-113, unless a letter of credit provides that it is transferable, the right of a beneficiary to draw or otherwise demand performance under a letter of credit may not be transferred.

  (b)  Even if a letter of credit provides that it is transferable, the issuer may refuse to recognize or carry out a transfer if:

  (1)  The transfer would violate applicable law; or

  (2)  The transferor or transferee has failed to comply with any requirement stated in the letter of credit or any other requirement relating to transfer imposed by the issuer which is within the standard practice referred to in section 400.5-108(e) or is otherwise reasonable under the circumstances.

­­--------

(L. 1963 p. 503 § 5-112, A.L. 1997 S.B. 6)


---- end of effective   28 Aug 1997 ----

use this link to bookmark section  400.5-112


In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions

Site changes Pictures Contact

Other Links
Oversight MOLIS Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House

@18:21:30.1 28 :)