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Can you summarize IACO 554.9107?
UNIFORM COMMERCIAL CODE > Control of letter-of-credit right.
Short Summary
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 554.5114, subsection 3, or otherwise applicable law or practice. 2000 Acts, ch 1149, 7, 185, 187 Referred to in 554.9203, 554.9207, 554.9208, 554.9314, 554.9329, 554.9601
Jurisdiction
Iowa