Alaska Statutes.
Title 45. Trade and Commerce
Chapter 29. Secured Transactions
Section 107. Control of Letter-of-Credit Right.
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AS 45.29.107. 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 a nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under AS 45.05.114 (c) or otherwise applicable law or practice.

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