Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“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.”
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02
How the instrument operates
- 01
Start with the recorded version
Undated source snapshot. The date shown identifies this source expression and should not be treated as proof that no later change exists.
- 02
Locate the controlling provision
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- 03
Read conditions and exceptions together
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- 04
Verify currency and official wording
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03
Research entry points
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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.
Section 10:5-112
04
Source and current-law status
Source record view
Source record from legis.la.gov · Undated source snapshot
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