Alaska § 45.05.112 - Transfer of letter of credit.
Full text of Alaska Alaska Statutes § 45.05.112 — Transfer of letter of credit., with citation guidance and answers to common questions.
§ 45.05.112. Transfer of letter of credit.
(a) Except as otherwise provided in AS 45.05.113 , unless a letter of credit provides that it is transferable, the right of a beneficiary to draw or otherwise demand performance under a letter of credit may not be transferred.
(b) Even if a letter of credit provides that it is transferable, the issuer may refuse to recognize or carry out a transfer if (1) the transfer would violate applicable law; or
(2) the transferor or transferee has failed to comply with a requirement stated in the letter of credit, or with another requirement that (A) relates to transfer imposed by the issuer; and
(B) is within the standard practice referred to in AS 45.05.108 (e) or is otherwise reasonable under the circumstances.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 45.05.112
What does Alaska Statutes § 45.05.112 cover?
Section 45.05.112 ("Transfer of letter of credit.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 45.05.112?
A common citation format is "Alaska Statutes § 45.05.112" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 45.05.112 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.