Vermont § 106 - § 5—106.
Full text of Vermont Vermont Statutes Online § 106 — § 5—106., with citation guidance and answers to common questions.
§ 106. § 5—106.
- Issuance, amendment, cancellation, and duration (a) A letter of credit is issued and becomes enforceable according to its terms against
the issuer when the issuer sends or otherwise transmits it to the person requested
to advise or to the beneficiary. A letter of credit is revocable only if it so provides. (b) After a letter of credit is issued, rights and obligations of a beneficiary, applicant,
confirmer, and issuer are not affected by an amendment or cancellation to which that
person has not consented except to the extent the letter of credit provides that it
is revocable or that the issuer may amend or cancel the letter of credit without that
consent. (c) If there is no stated expiration date or other provision that determines its duration,
a letter of credit expires one year after its stated date of issuance or, if none
is stated, after the date on which it is issued. (d) A letter of credit that states that it is perpetual expires five years after its stated
date of issuance, or if none is stated, after the date on which it is issued. (Added 1997, No. 65 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)
Frequently Asked Questions About Vermont § 106
What does Vermont Statutes Online § 106 cover?
Section 106 ("§ 5—106.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 106?
A common citation format is "Vermont Statutes Online § 106" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 106 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.