Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“The local law of the issuer's or nominated person's jurisdiction governs perfection and priority of a security interest in a letter-of-credit right, unless the section does not apply because the security interest is perfected only under R.S. 10:9-308(d).”
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02
How the instrument operates
- 01
Start with the recorded version
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- 02
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- 03
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- 04
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03
Research entry points
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The local law of the issuer's or nominated person's jurisdiction governs perfection and priority of a security interest in a letter-of-credit right, unless the section does not apply because the security interest is perfected only under R.S. 10:9-308(d).
Section 10:9-306
04
Source and current-law status
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Source record from legis.la.gov · Undated source snapshot
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