Vermont § 112 - § 5—112.
Full text of Vermont Vermont Statutes Online § 112 — § 5—112., with citation guidance and answers to common questions.
§ 112. § 5—112.
- Transfer of letter of credit (a) Except as otherwise provided in section 5—113 of this title, 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 any requirement stated in the
letter of credit or any other requirement relating to transfer imposed by the issuer
which is within the standard practice referred to in subsection 5—108(e) of this title or is otherwise reasonable under the circumstances. (Added 1997, No. 65 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)
Frequently Asked Questions About Vermont § 112
What does Vermont Statutes Online § 112 cover?
Section 112 ("§ 5—112.") 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 § 112?
A common citation format is "Vermont Statutes Online § 112" (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 § 112 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.