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Form a Business

Transfer of letter of credit

KRS 355.5-112
in effect
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355.5-112. Transfer of letter of credit If a letter of credit 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 KRS 355.5-108(5) or is otherwise reasonable under the circumstances. Effective: July 1, 2001 History: Repealed and reenacted 2000 Ky. Acts ch. 408, sec. 12, effective July 1, 2001. -- Created 1958 Ky. Acts ch. 77, sec. 5-112, effective July 1, 1960.
Source: Kentucky Legislative Research Commission (legislature.ky.gov)URL: https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33604Fetched: 10/20/2026

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