5-120 - Savings clause. - New-york Statutes

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Statutes > New-york > Ucc > Article-5 > 5-120

Section 5--120. Savings clause.    A  transaction  arising  out  of or associated with a letter of credit  that was issued before the  effective  date  of  this  article  and  the  rights,  obligations,  and  interests  flowing from that transaction are  governed by any statute or other law amended or repealed by the  chapter  of  the  laws which added this article as if repeal or amendment had not  occurred and may be  terminated,  completed,  consummated,  or  enforced  under that statute or other law.

State Codes and Statutes

Statutes > New-york > Ucc > Article-5 > 5-120

Section 5--120. Savings clause.    A  transaction  arising  out  of or associated with a letter of credit  that was issued before the  effective  date  of  this  article  and  the  rights,  obligations,  and  interests  flowing from that transaction are  governed by any statute or other law amended or repealed by the  chapter  of  the  laws which added this article as if repeal or amendment had not  occurred and may be  terminated,  completed,  consummated,  or  enforced  under that statute or other law.

State Codes and Statutes

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State Codes and Statutes

Statutes > New-york > Ucc > Article-5 > 5-120

Section 5--120. Savings clause.    A  transaction  arising  out  of or associated with a letter of credit  that was issued before the  effective  date  of  this  article  and  the  rights,  obligations,  and  interests  flowing from that transaction are  governed by any statute or other law amended or repealed by the  chapter  of  the  laws which added this article as if repeal or amendment had not  occurred and may be  terminated,  completed,  consummated,  or  enforced  under that statute or other law.