TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 5

UNIFORM COMMERCIAL CODE — LETTERS OF CREDIT

28-5-119.  Savings clause. A transaction arising out of or associated with a letter of credit that was issued before the effective date of this act and the rights, obligations, and interests flowing from that transaction are governed by any statute or other law amended or repealed by this act as if repeal or amendment had not occurred and may be terminated, completed, consummated, or enforced under that statute or other law.

History:

[28-5-119, added 1996, ch. 7, sec. 2, p. 18.]