§490:9-107  Control of letter-of-credit
right.  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 490:5-114(c) or otherwise
applicable law or practice. [L 2000, c 241, pt of §1]