Michigan § 440.9107 - Control of letter-of-credit right.
Full text of Michigan Michigan Compiled Laws § 440.9107 — Control of letter-of-credit right., with citation guidance and answers to common questions.
§ 440.9107. 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 5114(3) or otherwise applicable law or practice.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 440.9107
What does Michigan Compiled Laws § 440.9107 cover?
Section 440.9107 ("Control of letter-of-credit right.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. 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 Michigan § 440.9107?
A common citation format is "Michigan Compiled Laws § 440.9107" (Michigan). 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 Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 440.9107 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan 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 Michigan.