Missouri Revised Statutes













Chapter 400

Uniform Commercial Code

←400.09-106

Section 400.9-107.1

400.09-108→

August 28, 2015

Control of letter-of-credit right.

400.9-107. 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 any

nominated person if the issuer or nominated person has consented to an

assignment of proceeds of the letter of credit under section 400.5-114(c) or

otherwise applicable law or practice.



(L. 1963 p. 503 § 9-107, A.L. 2001 S.B. 288)



Effective 7-01-01





1991



1991



400.9-107. A security interest is a "purchase money security

interest" to the extent that it is



(a) taken or retained by the seller of the collateral to

secure all or part of its price; or



(b) taken by a person who by making advances or incurring an

obligation gives value to enable the debtor to acquire rights in

or the use of collateral if such value is in fact so used.



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