Virginia § 8.5A-112 - Transfer of letter of credit
Full text of Virginia Code of Virginia § 8.5A-112 — Transfer of letter of credit, with citation guidance and answers to common questions.
§ 8.5A-112. Transfer of letter of credit
(a) Except as otherwise provided in § 8.5A-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 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 § 8.5A-108(e) or is otherwise reasonable under the circumstances.
1997, c. 343.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 8.5A-112
What does Code of Virginia § 8.5A-112 cover?
Section 8.5A-112 ("Transfer of letter of credit") is part of the Code of Virginia, the codified statutory law of Virginia. 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 Virginia § 8.5A-112?
A common citation format is "Code of Virginia § 8.5A-112" (Virginia). 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 Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 8.5A-112 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia 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 Virginia.