United States — Louisiana
RS 10:4A-502
1 provisions
The section says how creditor process affects payment orders and what a beneficiary's bank may do with credited funds.
Act or statute Open & Chat
United States — Louisiana Statutes
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46,252 statutes · page 10 of 2,313
United States — Louisiana
RS 10:4A-503
1 provisions
A court may restrain certain funds-transfer actions if there is proper cause and the restraint complies with applicable law.
Act or statute Open & ChatUnited States — Louisiana
RS 10:4A-504
1 provisions
A receiving bank may charge the sender’s account in any order when it has multiple payment orders or payment orders plus other items payable from that account.
Act or statute Open & ChatUnited States — Louisiana
RS 10:4A-505
1 provisions
A customer who gets notice of a payment order generally must object to the bank within one year, or the customer is barred from claiming the bank may not keep the payment.
Act or statute Open & ChatUnited States — Louisiana
RS 10:4A-506
1 provisions
This section sets how interest payable on a payment order is determined and calculated, including special rules when a funds transfer is not completed.
Act or statute Open & ChatUnited States — Louisiana
RS 10:4A-507
1 provisions
This section says which jurisdiction’s law governs certain funds-transfer relationships, unless the parties agree otherwise or a system rule applies.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-101
1 provisions
This chapter is known as Uniform Commercial Code -- Letters of Credit, and it may be cited by that name.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-102
1 provisions
This section defines terms used in the chapter on letters of credit.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-103
1 provisions
This section says the chapter applies to letters of credit and related rights and obligations, and it limits when the chapter’s rules can be changed by agreement.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-104
1 provisions
A letter of credit, confirmation, advice, transfer, amendment, or cancellation may be issued in any form that is a signed record.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-105
1 provisions
Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-106
1 provisions
This section says when a letter of credit becomes enforceable, when it can be revoked, how amendments or cancellations affect parties, and when it expires.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-107
1 provisions
A confirmor takes on issuer-like rights and obligations for its confirmation; a requested adviser may decline; advisers must accurately advise and check the apparent authenticity of advice requests.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-108
1 provisions
An issuer must honor compliant presentations, dishonor noncompliant ones, follow standard banking practice, and handle notices and documents within specified time limits.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-109
1 provisions
This section requires the issuer to honor a complying letter-of-credit presentation in specified fraud-related cases, and lets the issuer act in good faith otherwise. It also lets a court stop payment or grant similar relief if the stated fraud findings are met.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-110
1 provisions
If presentation is honored, the beneficiary must warrant no fraud or forgery and no violation of the applicant-beneficiary agreement.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-111
1 provisions
This section sets the remedies and damages rules for letter-of-credit breaches, including recovery, limits on damages, interest, and attorney fees.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-112
1 provisions
A beneficiary generally may not transfer the right to draw or demand performance under a letter of credit unless the letter says it is transferable.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-113
1 provisions
A successor beneficiary may act in place of the beneficiary, and the issuer must recognize a disclosed successor if the stated requirements are met.
Act or statute Open & ChatUnited States — Louisiana
RS 10:5-114
1 provisions
A beneficiary may assign proceeds of a letter of credit, but the issuer or nominated person does not have to recognize the assignment until it consents.
Act or statute Open & Chat